Voleon Capital Management LP Acquires New Shares in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Voleon Capital Management LP bought a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 221,064 shares of the business services provider’s stock, valued at approximately $303,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cibc World Markets Corp purchased a new stake in Clear Channel Outdoor in the 4th quarter valued at about $45,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $53,000. Jacksonville Wealth Management LLC acquired a new position in shares of Clear Channel Outdoor in the 4th quarter worth approximately $62,000. ClearAlpha Technologies LP purchased a new position in shares of Clear Channel Outdoor during the 4th quarter worth approximately $135,000. Finally, Intech Investment Management LLC increased its holdings in Clear Channel Outdoor by 114.4% in the 4th quarter. Intech Investment Management LLC now owns 143,413 shares of the business services provider’s stock valued at $196,000 after purchasing an additional 76,536 shares during the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CCO. Morgan Stanley decreased their price target on Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Thursday. Barrington Research cut Clear Channel Outdoor from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 23rd.

Insider Activity

In related news, major shareholder Arturo R. Moreno purchased 29,289 shares of Clear Channel Outdoor stock in a transaction on Monday, April 21st. The shares were bought at an average price of $0.94 per share, with a total value of $27,531.66. Following the transaction, the insider now directly owns 61,445,196 shares of the company’s stock, valued at approximately $57,758,484.24. This trade represents a 0.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have purchased 7,350,634 shares of company stock worth $7,065,918. Corporate insiders own 7.70% of the company’s stock.

Clear Channel Outdoor Stock Up 4.7 %

Clear Channel Outdoor stock opened at $1.03 on Friday. The company’s 50 day moving average is $1.09 and its two-hundred day moving average is $1.35. The firm has a market cap of $504.76 million, a PE ratio of -3.55 and a beta of 2.72. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $0.81 and a 52-week high of $1.88.

Clear Channel Outdoor Profile

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.