Quadrature Capital Ltd Invests $68,000 in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Quadrature Capital Ltd purchased a new position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,421 shares of the business services provider’s stock, valued at approximately $68,000.

A number of other hedge funds have also recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in shares of Clear Channel Outdoor by 41.4% in the fourth quarter. SG Americas Securities LLC now owns 202,741 shares of the business services provider’s stock worth $369,000 after purchasing an additional 59,324 shares during the last quarter. Requisite Capital Management LLC grew its holdings in Clear Channel Outdoor by 100.0% during the 4th quarter. Requisite Capital Management LLC now owns 400,000 shares of the business services provider’s stock worth $728,000 after acquiring an additional 200,000 shares in the last quarter. Readystate Asset Management LP grew its holdings in Clear Channel Outdoor by 64.2% during the 4th quarter. Readystate Asset Management LP now owns 957,401 shares of the business services provider’s stock worth $1,742,000 after acquiring an additional 374,347 shares in the last quarter. Wolverine Asset Management LLC grew its holdings in Clear Channel Outdoor by 40.7% during the 4th quarter. Wolverine Asset Management LLC now owns 1,390,168 shares of the business services provider’s stock worth $2,530,000 after acquiring an additional 402,032 shares in the last quarter. Finally, Carronade Capital Management LP bought a new position in Clear Channel Outdoor during the 3rd quarter worth about $1,580,000. 85.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a report on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.16.

Clear Channel Outdoor Stock Performance

CCO stock opened at $1.41 on Friday. The firm has a market cap of $689.08 million, a price-to-earnings ratio of -1.83 and a beta of 3.01. The firm has a 50-day simple moving average of $1.45 and a two-hundred day simple moving average of $1.61. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.04 and a one year high of $2.06.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01. The firm had revenue of $481.75 million for the quarter, compared to analysts’ expectations of $480.69 million. During the same period in the previous year, the company posted ($0.23) earnings per share. As a group, equities analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.25 earnings per share for the current fiscal year.

Clear Channel Outdoor Profile

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.