GSA Capital Partners LLP Makes New Investment in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

GSA Capital Partners LLP bought a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 187,371 shares of the business services provider’s stock, valued at approximately $300,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ground Swell Capital LLC purchased a new position in shares of Clear Channel Outdoor in the 3rd quarter valued at approximately $34,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Clear Channel Outdoor during the 3rd quarter worth $34,000. Stratos Wealth Advisors LLC purchased a new stake in Clear Channel Outdoor in the 3rd quarter valued at about $40,000. Inspire Investing LLC acquired a new position in Clear Channel Outdoor in the 3rd quarter valued at about $410,000. Finally, Point72 DIFC Ltd acquired a new position in Clear Channel Outdoor in the second quarter valued at approximately $55,000. 85.52% of the stock is currently owned by institutional investors.

Clear Channel Outdoor Stock Performance

Shares of NYSE CCO opened at $1.58 on Friday. The firm has a market cap of $772.75 million, a price-to-earnings ratio of -5.45 and a beta of 3.08. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $1.26 and a 1 year high of $2.06. The stock’s 50-day simple moving average is $1.58 and its 200-day simple moving average is $1.53.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CCO. TD Cowen dropped their price target on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a research note on Friday, November 1st. Barrington Research restated an “outperform” rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a report on Thursday, October 31st. Finally, Wells Fargo & Company cut Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $2.75 to $1.75 in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.16.

Insider Activity at Clear Channel Outdoor

In related news, major shareholder Arturo R. Moreno bought 250,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $1.45 per share, for a total transaction of $362,500.00. Following the completion of the purchase, the insider now directly owns 52,182,534 shares in the company, valued at approximately $75,664,674.30. The trade was a 0.48 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.53% of the stock is owned by corporate insiders.

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.