Man Investment Partners US LP Acquires Shares of 2,086,715 Clear Channel Outdoor Holdings, Inc. $CCO

Man Investment Partners US LP acquired a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,086,715 shares of the business services provider’s stock, valued at approximately $4,612,000. Clear Channel Outdoor accounts for 7.2% of Man Investment Partners US LP’s portfolio, making the stock its 3rd largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Ieq Capital LLC lifted its stake in Clear Channel Outdoor by 8.3% during the 4th quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 4,493 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Clear Channel Outdoor by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 8,976 shares during the period. SG Americas Securities LLC increased its holdings in shares of Clear Channel Outdoor by 61.8% during the 4th quarter. SG Americas Securities LLC now owns 23,618 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 9,019 shares in the last quarter. Advisors Capital Management LLC increased its holdings in shares of Clear Channel Outdoor by 91.7% during the 3rd quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 11,000 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Clear Channel Outdoor during the 4th quarter valued at approximately $28,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCO has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Friday, March 27th. TD Cowen reaffirmed a “hold” rating and set a $2.43 target price (down from $2.50) on shares of Clear Channel Outdoor in a report on Monday, April 6th. Finally, Wells Fargo & Company lifted their target price on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a report on Friday, February 27th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $2.29.

Clear Channel Outdoor Price Performance

NYSE:CCO opened at $2.41 on Wednesday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -13.36 and a beta of 1.96. The company has a 50 day moving average price of $2.39 and a 200-day moving average price of $2.28. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $1.00 and a 1-year high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last posted its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $373.86 million for the quarter, compared to analysts’ expectations of $348.71 million. On average, sell-side analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Raymond T. White sold 23,435,796 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $2.40, for a total value of $56,245,910.40. Following the completion of the sale, the director owned 187,371 shares of the company’s stock, valued at approximately $449,690.40. The trade was a 99.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.20% of the company’s stock.

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.