Wells Fargo & Company MN reduced its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 40.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of CCO. Norges Bank purchased a new stake in shares of Clear Channel Outdoor Holdings during the fourth quarter valued at about $681,000. AEGON USA Investment Management LLC raised its stake in shares of 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 last quarter. Renaissance Technologies LLC raised its stake in shares of 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 last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 9.18% of the company’s stock.
Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) traded down 2.41% during mid-day trading on Friday, hitting $4.05. The company had a trading volume of 133,299 shares. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $3.35 and a 52 week high of $7.31. The firm’s 50 day moving average is $4.63 and its 200 day moving average is $4.91. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 40.50 and a beta of 1.51.
Clear Channel Outdoor Holdings (NYSE:CCO) last released its earnings results on Thursday, August 3rd. The business services provider reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The company had revenue of $672.32 million for the quarter, compared to the consensus estimate of $672.22 million. Clear Channel Outdoor Holdings had a negative return on equity of 3.35% and a net margin of 1.40%. On average, equities research analysts predict that Clear Channel Outdoor Holdings, Inc. will post ($0.09) EPS for the current year.
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CCO has been the topic of several research reports. TheStreet lowered Clear Channel Outdoor Holdings from a “c” rating to a “d” rating in a research note on Thursday, May 4th. Zacks Investment Research upgraded Clear Channel Outdoor Holdings from a “sell” rating to a “buy” rating and set a $5.50 target price on the stock in a research note on Wednesday, July 19th. ValuEngine lowered Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Six investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average target price of $7.81.
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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