Empowered Funds LLC Buys Shares of 157,793 Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Empowered Funds LLC bought a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 157,793 shares of the business services provider’s stock, valued at approximately $216,000.

A number of other hedge funds have also added to or reduced their stakes in CCO. Crewe Advisors LLC purchased a new position in Clear Channel Outdoor during the 3rd quarter valued at about $32,000. Ground Swell Capital LLC purchased a new position in Clear Channel Outdoor during the 3rd quarter valued at about $34,000. Jacksonville Wealth Management LLC purchased a new position in Clear Channel Outdoor during the 4th quarter valued at about $62,000. Dynamic Technology Lab Private Ltd purchased a new position in Clear Channel Outdoor during the 3rd quarter valued at about $65,000. Finally, Intech Investment Management LLC purchased a new position in Clear Channel Outdoor during the 3rd quarter valued at about $107,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Trading Down 2.5 %

CCO stock opened at $1.37 on Friday. The company’s 50 day moving average is $1.41 and its 200 day moving average is $1.50. The stock has a market cap of $667.59 million, a price-to-earnings ratio of -4.71 and a beta of 3.03. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $1.29 and a 1-year high of $2.06.

Analysts Set New Price Targets

Several brokerages have recently commented on CCO. TD Cowen cut their price objective on Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a report on Friday, November 1st. Barrington Research restated an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a research report on Thursday, October 31st.

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.