Wolverine Asset Management LLC Buys 402,032 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Wolverine Asset Management LLC raised its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 40.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,390,168 shares of the business services provider’s stock after purchasing an additional 402,032 shares during the quarter. Wolverine Asset Management LLC owned 0.29% of Clear Channel Outdoor worth $2,530,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Optas LLC acquired a new position in Clear Channel Outdoor during the 3rd quarter valued at about $27,000. Principal Financial Group Inc. raised its holdings in Clear Channel Outdoor by 39.2% during the 3rd quarter. Principal Financial Group Inc. now owns 55,130 shares of the business services provider’s stock valued at $87,000 after acquiring an additional 15,511 shares during the period. Quantbot Technologies LP increased its holdings in shares of Clear Channel Outdoor by 3,466.3% in the third quarter. Quantbot Technologies LP now owns 126,213 shares of the business services provider’s stock worth $199,000 after purchasing an additional 122,674 shares during the period. SG Americas Securities LLC increased its holdings in shares of Clear Channel Outdoor by 19.9% in the third quarter. SG Americas Securities LLC now owns 143,417 shares of the business services provider’s stock worth $227,000 after purchasing an additional 23,756 shares during the period. Finally, Requisite Capital Management LLC bought a new position in Clear Channel Outdoor in the third quarter valued at $316,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

NYSE CCO traded down $0.03 during trading hours on Wednesday, hitting $1.48. 339,744 shares of the company’s stock were exchanged, compared to its average volume of 2,341,371. The business’s 50 day moving average is $1.65 and its 200-day moving average is $1.56. The firm has a market capitalization of $713.49 million, a P/E ratio of -2.31 and a beta of 2.88. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $0.99 and a 12-month high of $2.06.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings results on Monday, February 26th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $632.11 million during the quarter, compared to the consensus estimate of $611.62 million. During the same period last year, the business posted $0.24 EPS. As a group, equities research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CCO. Barrington Research restated an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a report on Tuesday, February 27th. StockNews.com upgraded shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, February 16th. Finally, Morgan Stanley lifted their target price on shares of Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Clear Channel Outdoor currently has a consensus rating of “Hold” and an average target price of $2.16.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.