Wells Fargo & Company MN reduced its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 40.9% during the first quarter, Holdings Channel reports. The firm owned 23,229 shares of the business services provider’s stock after selling 16,071 shares during the period. Wells Fargo & Company MN’s holdings in Clear Channel Outdoor Holdings were worth $141,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of CCO. Renaissance Technologies LLC boosted its position in Clear Channel Outdoor Holdings by 4.0% in the fourth quarter. Renaissance Technologies LLC now owns 896,100 shares of the business services provider’s stock valued at $4,525,000 after buying an additional 34,600 shares during the period. Dimensional Fund Advisors LP boosted its position in Clear Channel Outdoor Holdings by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 376,408 shares of the business services provider’s stock valued at $1,901,000 after buying an additional 24,447 shares during the period. AEGON USA Investment Management LLC boosted its position in Clear Channel Outdoor Holdings by 121.3% in the first quarter. AEGON USA Investment Management LLC now owns 238,136 shares of the business services provider’s stock valued at $1,441,000 after buying an additional 130,521 shares during the period. Norges Bank bought a new position in Clear Channel Outdoor Holdings during the fourth quarter valued at $681,000. Finally, State Board of Administration of Florida Retirement System boosted its position in Clear Channel Outdoor Holdings by 15.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 54,919 shares of the business services provider’s stock valued at $277,000 after buying an additional 7,260 shares during the period. Institutional investors own 9.15% of the company’s stock.
Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) opened at 5.15 on Tuesday. The company’s market capitalization is $1.86 billion. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $3.35 and a 52-week high of $7.31. The company has a 50 day moving average of $4.33 and a 200 day moving average of $4.94.
Clear Channel Outdoor Holdings (NYSE:CCO) last posted its quarterly earnings results on Thursday, May 4th. The business services provider reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.07. Clear Channel Outdoor Holdings had a negative return on equity of 14.75% and a negative net margin of 1.04%. The company had revenue of $544.73 million for the quarter, compared to analysts’ expectations of $559.30 million. On average, equities research analysts forecast that Clear Channel Outdoor Holdings, Inc. will post ($0.11) earnings per share for the current fiscal year.
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Several research analysts recently weighed in on CCO shares. Zacks Investment Research cut shares of Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. TheStreet cut shares of Clear Channel Outdoor Holdings from a “c” rating to a “d” rating in a research report on Thursday, May 4th. BidaskClub upgraded shares of Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, ValuEngine cut shares of Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Clear Channel Outdoor Holdings presently has an average rating of “Hold” and an average price target of $7.69.
About Clear Channel Outdoor Holdings
Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. Its segments include Americas outdoor advertising (Americas) and International outdoor advertising (International).
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