Renaissance Technologies LLC Has $6.46 Million Stock Holdings in Clear Channel Outdoor Holdings, Inc. $CCO

Renaissance Technologies LLC raised its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 10.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,725,692 shares of the business services provider’s stock after purchasing an additional 265,303 shares during the quarter. Renaissance Technologies LLC’s holdings in Clear Channel Outdoor were worth $6,460,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CCO. Captrust Financial Advisors bought a new position in shares of Clear Channel Outdoor in the 4th quarter worth $27,000. EntryPoint Capital LLC acquired a new position in Clear Channel Outdoor in the fourth quarter valued at about $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Clear Channel Outdoor during the fourth quarter worth about $31,000. Sargent Investment Group LLC bought a new position in Clear Channel Outdoor during the fourth quarter worth about $33,000. Finally, Transmarket Holdings LP acquired a new position in shares of Clear Channel Outdoor during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Insiders Place Their Bets

In other Clear Channel Outdoor news, Director Raymond T. White sold 23,435,796 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $2.40, for a total value of $56,245,910.40. Following the completion of the transaction, the director directly owned 187,371 shares of the company’s stock, valued at approximately $449,690.40. The trade was a 99.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 26,239,967 shares of company stock worth $62,975,921 in the last 90 days. Insiders own 7.20% of the company’s stock.

Clear Channel Outdoor Stock Down 0.2%

Shares of NYSE CCO opened at $2.42 on Wednesday. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $1.02 and a twelve month high of $2.44. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -13.42 and a beta of 1.95. The company’s fifty day moving average is $2.41 and its 200-day moving average is $2.36.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.10) 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, research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Wednesday, June 24th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Clear Channel Outdoor presently has a consensus rating of “Reduce” and an average target price of $2.29.

Clear Channel Outdoor Profile

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.