Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 17.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,923 shares of the business services provider’s stock after selling 7,344 shares during the period. Principal Financial Group Inc.’s holdings in Clear Channel Outdoor were worth $51,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CCO. CCG Wealth Management LLC acquired a new stake in Clear Channel Outdoor during the 1st quarter valued at approximately $46,000. Quadrature Capital Ltd acquired a new position in Clear Channel Outdoor during the fourth quarter valued at $68,000. Genesee Capital Advisors LLC purchased a new stake in Clear Channel Outdoor in the second quarter valued at $136,000. AEGON USA Investment Management LLC grew its position in Clear Channel Outdoor by 53.4% during the 2nd quarter. AEGON USA Investment Management LLC now owns 154,449 shares of the business services provider’s stock worth $218,000 after purchasing an additional 53,736 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Clear Channel Outdoor by 63.3% during the 1st quarter. BNP Paribas Financial Markets now owns 212,246 shares of the business services provider’s stock worth $350,000 after purchasing an additional 82,286 shares during the period. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Clear Channel Outdoor

In other news, major shareholder Pacific Investment Management sold 46,959 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $1.69, for a total value of $79,360.71. Following the completion of the sale, the insider now owns 104,812,998 shares of the company’s stock, valued at approximately $177,133,966.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.53% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Monday, August 12th.

Clear Channel Outdoor Price Performance

Shares of NYSE:CCO opened at $1.70 on Tuesday. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $1.04 and a 1 year high of $2.06. The firm has a market capitalization of $828.36 million, a PE ratio of -2.20 and a beta of 3.07. The business’s 50 day moving average price is $1.55 and its 200-day moving average price is $1.53.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $558.54 million for the quarter, compared to analysts’ expectations of $563.75 million. As a group, analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current year.

About Clear Channel Outdoor

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.