Point72 Asia Singapore Pte. Ltd. Increases Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Point72 Asia Singapore Pte. Ltd. lifted its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 622.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,248 shares of the business services provider’s stock after acquiring an additional 83,778 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Clear Channel Outdoor were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Clear Channel Outdoor by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider’s stock valued at $534,000 after purchasing an additional 17,901 shares during the period. XTX Topco Ltd raised its position in Clear Channel Outdoor by 28.4% during the 2nd quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock worth $114,000 after buying an additional 17,957 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Clear Channel Outdoor by 8.6% during the 1st quarter. Russell Investments Group Ltd. now owns 290,550 shares of the business services provider’s stock valued at $479,000 after acquiring an additional 23,067 shares during the period. CCG Wealth Management LLC purchased a new stake in shares of Clear Channel Outdoor in the 1st quarter valued at $46,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Clear Channel Outdoor in the fourth quarter worth $68,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

CCO stock opened at $1.51 on Friday. The firm’s fifty day moving average is $1.53 and its 200 day moving average is $1.52. The firm has a market cap of $735.50 million, a PE ratio of -1.95 and a beta of 3.07. 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 announced 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 company had revenue of $558.54 million during the quarter, compared to analysts’ expectations of $563.75 million. Research analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Pacific Investment Management sold 46,959 shares of Clear Channel Outdoor stock in a transaction 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 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $2.75 to $1.75 in a report on Thursday, September 19th. Barrington Research reaffirmed an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a report on Monday, August 12th.

Clear Channel Outdoor Company 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.