JPMorgan Chase & Co. Raises Stock Holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

JPMorgan Chase & Co. increased its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,761,198 shares of the business services provider’s stock after acquiring an additional 54,566 shares during the quarter. JPMorgan Chase & Co. owned about 1.38% of Clear Channel Outdoor worth $10,818,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Jane Street Group LLC raised its holdings in Clear Channel Outdoor by 56.7% during the third quarter. Jane Street Group LLC now owns 1,116,893 shares of the business services provider’s stock valued at $1,787,000 after acquiring an additional 404,082 shares during the period. Cerity Partners LLC purchased a new stake in Clear Channel Outdoor during the third quarter valued at approximately $1,730,000. Barclays PLC lifted its position in Clear Channel Outdoor by 271.2% in the third quarter. Barclays PLC now owns 520,663 shares of the business services provider’s stock worth $833,000 after buying an additional 380,408 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of Clear Channel Outdoor by 25.9% in the second quarter. Gabelli Funds LLC now owns 2,865,000 shares of the business services provider’s stock worth $4,040,000 after buying an additional 590,000 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Clear Channel Outdoor by 5.4% during the 3rd quarter. Victory Capital Management Inc. now owns 759,013 shares of the business services provider’s stock worth $1,214,000 after purchasing an additional 38,913 shares during the period. 85.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Arturo R. Moreno acquired 250,000 shares of Clear Channel Outdoor stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $1.45 per share, with a total value of $362,500.00. Following the purchase, the insider now owns 52,182,534 shares in the company, valued at $75,664,674.30. This trade represents a 0.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.53% of the stock is currently owned by insiders.

Clear Channel Outdoor Price Performance

Shares of NYSE CCO opened at $1.43 on Monday. The firm’s 50 day simple moving average is $1.50 and its 200-day simple moving average is $1.54. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $1.29 and a 12 month high of $2.06. The stock has a market capitalization of $699.38 million, a price-to-earnings ratio of -4.93 and a beta of 3.04.

Analyst Upgrades and Downgrades

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

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.