Insider Selling: Clear Channel Outdoor (NYSE:CCO) Major Shareholder Sells 1,631,555 Shares of Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Ares Management Llc sold 1,631,555 shares of Clear Channel Outdoor stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $1.39, for a total value of $2,267,861.45. Following the completion of the transaction, the insider owned 54,197,491 shares of the company’s stock, valued at approximately $75,334,512.49. The trade was a 2.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ares Management Llc also recently made the following trade(s):

• On Wednesday, September 10th, Ares Management Llc sold 13,000,000 shares of Clear Channel Outdoor stock. The stock was sold at an average price of $1.13, for a total value of $14,690,000.00.

Clear Channel Outdoor Trading Down 1.1%

Shares of CCO opened at $1.32 on Friday. The firm has a market cap of $653.57 million, a price-to-earnings ratio of 32.88 and a beta of 2.61. The stock has a 50 day moving average of $1.20 and a 200-day moving average of $1.14. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $1.77.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Tuesday, August 5th. The business services provider reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $402.81 million during the quarter, compared to analyst estimates of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley set a $1.75 price objective on Clear Channel Outdoor in a research report on Wednesday. Barrington Research reaffirmed a “market perform” rating on shares of Clear Channel Outdoor in a research note on Wednesday, July 23rd. Finally, Citigroup lifted their target price on Clear Channel Outdoor from $1.25 to $1.35 and gave the company a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Clear Channel Outdoor has a consensus rating of “Hold” and a consensus price target of $1.95.

Institutional Investors Weigh In On Clear Channel Outdoor

A number of institutional investors and hedge funds have recently modified their holdings of CCO. Teacher Retirement System of Texas acquired a new stake in shares of Clear Channel Outdoor during the first quarter worth $39,000. Russell Investments Group Ltd. raised its position in shares of Clear Channel Outdoor by 28.6% during the first quarter. Russell Investments Group Ltd. now owns 546,947 shares of the business services provider’s stock worth $607,000 after purchasing an additional 121,578 shares during the period. Swiss National Bank raised its position in shares of Clear Channel Outdoor by 9.5% during the first quarter. Swiss National Bank now owns 473,800 shares of the business services provider’s stock worth $526,000 after purchasing an additional 41,000 shares during the period. XTX Topco Ltd raised its position in shares of Clear Channel Outdoor by 20.7% during the first quarter. XTX Topco Ltd now owns 100,929 shares of the business services provider’s stock worth $112,000 after purchasing an additional 17,292 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Clear Channel Outdoor during the first quarter worth $418,000. 85.52% of the stock is owned by institutional investors and hedge funds.

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.