847,960 Shares in Clear Channel Outdoor Holdings, Inc. $CCO Acquired by Credit Industriel ET Commercial

Credit Industriel ET Commercial purchased a new stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 847,960 shares of the business services provider’s stock, valued at approximately $2,010,000. Credit Industriel ET Commercial owned 0.17% of Clear Channel Outdoor at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. 140 Summer Partners LP acquired a new stake in shares of Clear Channel Outdoor during the 4th quarter worth about $8,806,000. Barclays PLC grew its stake in Clear Channel Outdoor by 3,017.0% in the 3rd quarter. Barclays PLC now owns 4,109,743 shares of the business services provider’s stock valued at $6,493,000 after buying an additional 3,977,895 shares during the last quarter. Occam Crest Management LP raised its holdings in Clear Channel Outdoor by 423.7% in the 4th quarter. Occam Crest Management LP now owns 3,404,300 shares of the business services provider’s stock valued at $7,524,000 after acquiring an additional 2,754,300 shares during the period. Marshall Wace LLP acquired a new stake in Clear Channel Outdoor during the fourth quarter worth approximately $5,925,000. Finally, EVR Research LP acquired a new stake in Clear Channel Outdoor during the third quarter worth approximately $3,950,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Analyst Ratings Changes

CCO has been the topic of several research reports. TD Cowen restated a “hold” rating and issued a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Wednesday, June 24th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $2.29.

Clear Channel Outdoor Stock Down 0.2%

CCO stock opened at $2.40 on Tuesday. The business has a 50-day simple moving average of $2.40 and a 200 day simple moving average of $2.32. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $1.00 and a 52 week high of $2.43. The company has a market cap of $1.22 billion, a PE ratio of -13.36 and a beta of 1.95.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $373.86 million for the quarter, compared to analyst estimates of $348.71 million. On average, analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Insider Activity at Clear Channel Outdoor

In other news, Director Raymond T. White sold 23,435,796 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $2.40, for a total transaction of $56,245,910.40. Following the completion of the transaction, the director directly owned 187,371 shares in the company, valued at $449,690.40. This trade represents a 99.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 26,239,967 shares of company stock worth $62,975,921 in the last quarter. 7.20% of the stock is currently owned by insiders.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.