Wells Fargo & Company MN lowered its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 40.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in CCO. Norges Bank purchased a new stake in Clear Channel Outdoor Holdings during the fourth quarter worth approximately $681,000. AEGON USA Investment Management LLC raised 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. Renaissance Technologies LLC raised 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 raised 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. Finally, State Board of Administration of Florida Retirement System raised 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 and hedge funds own 9.16% of the company’s stock.
Clear Channel Outdoor Holdings, Inc. (CCO) opened at 4.60 on Friday. The company’s 50 day moving average price is $4.54 and its 200-day moving average price is $4.96. The firm’s market capitalization is $1.66 billion. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $3.35 and a 12-month high of $7.31.
Clear Channel Outdoor Holdings (NYSE:CCO) last issued 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. The business had revenue of $544.73 million for the quarter, compared to analyst estimates of $559.30 million. Clear Channel Outdoor Holdings had a negative return on equity of 14.75% and a negative net margin of 1.04%. On average, equities analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post ($0.07) earnings per share for the current fiscal year.
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A number of research analysts recently weighed in on CCO shares. Zacks Investment Research raised Clear Channel Outdoor Holdings from a “hold” rating to a “strong-buy” rating and set a $6.00 target price on the stock in a report on Friday, July 28th. TheStreet lowered Clear Channel Outdoor Holdings from a “c” rating to a “d” rating in a report on Thursday, May 4th. BidaskClub raised Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, ValuEngine lowered Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.81.
Clear Channel Outdoor Holdings Company Profile
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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