Net Worth Advisory Group Invests $471,000 in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Net Worth Advisory Group acquired a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the 1st quarter, Holdings Channel reports. The firm acquired 424,063 shares of the business services provider’s stock, valued at approximately $471,000.

Other institutional investors also recently modified their holdings of the company. Graham Capital Management L.P. acquired a new position in shares of Clear Channel Outdoor during the 4th quarter worth about $36,000. Cibc World Markets Corp acquired a new position in shares of Clear Channel Outdoor during the 4th quarter worth about $45,000. KLP Kapitalforvaltning AS acquired a new position in shares of Clear Channel Outdoor during the 4th quarter worth about $53,000. Brevan Howard Capital Management LP acquired a new position in Clear Channel Outdoor in the 4th quarter valued at about $92,000. Finally, Cubist Systematic Strategies LLC grew its stake in Clear Channel Outdoor by 24.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider’s stock valued at $133,000 after buying an additional 18,958 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Clear Channel Outdoor Stock Performance

Shares of CCO opened at $1.16 on Friday. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $1.88. The firm has a market cap of $573.71 million, a P/E ratio of -3.98 and a beta of 2.59. The firm’s 50-day simple moving average is $1.06 and its 200 day simple moving average is $1.25.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $334.18 million during the quarter, compared to the consensus estimate of $337.70 million.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Barrington Research lowered shares of Clear Channel Outdoor from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 23rd.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 2,500,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $0.94 per share, with a total value of $2,350,000.00. Following the acquisition, the insider now directly owns 57,432,534 shares of the company’s stock, valued at approximately $53,986,581.96. This trade represents a 4.55% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Wells acquired 50,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $1.08 per share, with a total value of $54,000.00. Following the acquisition, the chief executive officer now directly owns 3,392,205 shares in the company, valued at approximately $3,663,581.40. This trade represents a 1.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 8,009,591 shares of company stock valued at $7,774,881 in the last quarter. Company insiders own 7.70% of the company’s stock.

Clear Channel Outdoor Company 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.