Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) major shareholder Pacific Investment Management sold 12,584 shares of Clear Channel Outdoor stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1.55, for a total value of $19,505.20. Following the completion of the transaction, the insider now owns 104,859,957 shares in the company, valued at $162,532,933.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Clear Channel Outdoor Stock Up 1.6 %
Shares of CCO opened at $1.57 on Friday. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $0.99 and a 12-month high of $2.06. The firm has a market capitalization of $757.02 million, a price-to-earnings ratio of -2.41 and a beta of 2.88. The stock's 50-day moving average price is $1.69 and its 200 day moving average price is $1.55.
Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $632.11 million for the quarter, compared to the consensus estimate of $611.62 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Equities research analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.24 EPS for the current year.
Wall Street Analysts Forecast Growth
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A number of equities analysts have recently commented on CCO shares. Morgan Stanley lifted their price objective on Clear Channel Outdoor from $1.50 to $2.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 28th. Wells Fargo & Company upgraded Clear Channel Outdoor from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $1.50 to $2.75 in a research note on Wednesday, December 20th. Barrington Research reiterated an "outperform" rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Tuesday, February 27th. Finally, StockNews.com upgraded Clear Channel Outdoor from a "sell" rating to a "hold" rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $2.16.
Check Out Our Latest Report on Clear Channel Outdoor
Institutional Investors Weigh In On Clear Channel Outdoor
A number of institutional investors have recently added to or reduced their stakes in CCO. Optas LLC acquired a new stake in Clear Channel Outdoor during the third quarter valued at approximately $27,000. Parallax Volatility Advisers L.P. acquired a new stake in Clear Channel Outdoor during the third quarter valued at approximately $30,000. Raymond James & Associates boosted its holdings in Clear Channel Outdoor by 76.9% during the fourth quarter. Raymond James & Associates now owns 29,900 shares of the business services provider's stock valued at $31,000 after purchasing an additional 13,000 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Clear Channel Outdoor during the first quarter valued at approximately $35,000. Finally, Alpine Global Management LLC acquired a new stake in Clear Channel Outdoor during the fourth quarter valued at approximately $36,000. 85.52% of the stock is owned by institutional investors and hedge funds.
Clear Channel Outdoor Company Profile
(
Get Free Report)
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.
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