Jane Street Group LLC Buys 404,082 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Jane Street Group LLC increased its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 56.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,116,893 shares of the business services provider’s stock after buying an additional 404,082 shares during the period. Jane Street Group LLC owned 0.23% of Clear Channel Outdoor worth $1,787,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in shares of Clear Channel Outdoor during the third quarter worth approximately $32,000. CarsonAllaria Wealth Management Ltd. bought a new position in Clear Channel Outdoor in the third quarter worth approximately $34,000. Ground Swell Capital LLC bought a new stake in Clear Channel Outdoor during the 3rd quarter valued at $34,000. Stratos Wealth Advisors LLC bought a new position in shares of Clear Channel Outdoor during the 3rd quarter worth $40,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Clear Channel Outdoor during the second quarter valued at $55,000. Institutional investors own 85.52% of the company’s stock.

Insider Buying and Selling

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 250,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $1.45 per share, for a total transaction of $362,500.00. Following the purchase, the insider now directly owns 52,182,534 shares in the company, valued at $75,664,674.30. This represents a 0.48 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CCO has been the subject of a number of research reports. Barrington Research reaffirmed an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Thursday, October 31st. Wells Fargo & Company downgraded shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $2.75 to $1.75 in a research note on Thursday, September 19th. Finally, TD Cowen reduced their price objective on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Clear Channel Outdoor presently has an average rating of “Hold” and a consensus target price of $2.16.

Clear Channel Outdoor Stock Performance

CCO stock opened at $1.39 on Thursday. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.29 and a one year high of $2.06. The firm has a market cap of $679.82 million, a price-to-earnings ratio of -4.79 and a beta of 3.05. The firm has a 50-day simple moving average of $1.53 and a two-hundred day simple moving average of $1.53.

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.