Inspire Investing LLC Acquires Shares of 256,362 Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Inspire Investing LLC bought a new position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 256,362 shares of the business services provider’s stock, valued at approximately $410,000. Inspire Investing LLC owned about 0.05% of Clear Channel Outdoor as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. CCG Wealth Management LLC bought a new position in Clear Channel Outdoor in the 1st quarter valued at $46,000. Quadrature Capital Ltd bought a new stake in Clear Channel Outdoor in the fourth quarter worth about $68,000. Point72 DIFC Ltd bought a new position in shares of Clear Channel Outdoor during the 2nd quarter valued at approximately $55,000. XTX Topco Ltd increased its stake in shares of 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 purchasing an additional 17,957 shares during the last quarter. Finally, Cowen AND Company LLC bought a new stake in shares of Clear Channel Outdoor in the 2nd quarter worth approximately $120,000. 85.52% of the stock is owned by institutional investors.

Clear Channel Outdoor Stock Performance

Shares of NYSE CCO opened at $1.58 on Friday. The stock has a fifty day moving average of $1.54 and a 200-day moving average of $1.52. The stock has a market cap of $769.71 million, a PE ratio of -2.05 and a beta of 3.07. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $2.06.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $558.54 million for the quarter, compared to the consensus estimate of $563.75 million. On average, sell-side analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling

In other Clear Channel Outdoor news, major shareholder Pacific Investment Management sold 46,959 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $1.69, for a total value of $79,360.71. Following the transaction, the insider now directly owns 104,812,998 shares in the company, valued at $177,133,966.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CCO shares. Wells Fargo & Company downgraded Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $2.75 to $1.75 in a research report on Thursday, September 19th. Barrington Research reiterated an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research 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.