Scott Wells Acquires 50,000 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) CEO Scott Wells purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $1.08 per share, with a total value of $54,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,392,205 shares in the company, valued at approximately $3,663,581.40. This represents a 1.50 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Clear Channel Outdoor Stock Performance

Shares of CCO stock opened at $1.12 on Friday. The stock has a market capitalization of $546.41 million, a price-to-earnings ratio of -3.84 and a beta of 2.58. Clear Channel Outdoor Holdings, Inc. has a one year low of $0.81 and a one year high of $1.88. The company’s 50-day simple moving average is $1.07 and its 200-day simple moving average is $1.33.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Thursday, May 1st. The business services provider reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $334.18 million during the quarter, compared to analyst estimates of $337.70 million.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCO. Morgan Stanley lowered their target price on Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Barrington Research downgraded Clear Channel Outdoor from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 23rd.

Institutional Trading of Clear Channel Outdoor

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its position in shares of Clear Channel Outdoor by 271.2% during the 3rd quarter. Barclays PLC now owns 520,663 shares of the business services provider’s stock valued at $833,000 after buying an additional 380,408 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Clear Channel Outdoor by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider’s stock valued at $10,818,000 after purchasing an additional 54,566 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Clear Channel Outdoor by 31.2% during the 4th quarter. SG Americas Securities LLC now owns 294,947 shares of the business services provider’s stock worth $404,000 after purchasing an additional 70,196 shares during the period. Inspire Investing LLC lifted its holdings in shares of Clear Channel Outdoor by 13.6% in the 4th quarter. Inspire Investing LLC now owns 291,121 shares of the business services provider’s stock worth $399,000 after purchasing an additional 34,759 shares during the last quarter. Finally, Jacksonville Wealth Management LLC acquired a new position in Clear Channel Outdoor during the 4th quarter valued at approximately $62,000. Institutional investors own 85.52% of the company’s stock.

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.