Marshall Wace LLP Purchases New Stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Marshall Wace LLP acquired a new position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 475,545 shares of the business services provider’s stock, valued at approximately $671,000. Marshall Wace LLP owned 0.10% of Clear Channel Outdoor as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Clear Channel Outdoor by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider’s stock worth $534,000 after purchasing an additional 17,901 shares during the period. XTX Topco Ltd grew 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 acquiring an additional 17,957 shares during the period. Russell Investments Group Ltd. increased its holdings in Clear Channel Outdoor by 8.6% in the 1st quarter. Russell Investments Group Ltd. now owns 290,550 shares of the business services provider’s stock worth $479,000 after acquiring an additional 23,067 shares during the last quarter. CCG Wealth Management LLC bought a new stake in Clear Channel Outdoor in the 1st quarter valued at about $46,000. Finally, Quadrature Capital Ltd purchased a new stake in Clear Channel Outdoor during the fourth quarter valued at about $68,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Clear Channel Outdoor Stock Up 1.3 %

Shares of CCO opened at $1.52 on Wednesday. The business’s 50-day moving average price is $1.52 and its 200-day moving average price is $1.52. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $1.04 and a twelve month high of $2.06. The stock has a market cap of $742.83 million, a PE ratio of -1.97 and a beta of 3.07.

Clear Channel Outdoor (NYSE:CCO) last posted its earnings results on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $558.54 million for the quarter, compared to analyst estimates of $563.75 million. Analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on CCO. Wells Fargo & Company downgraded shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $2.75 to $1.75 in a research note on Thursday, September 19th. Barrington Research reissued an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a report on Monday, August 12th.

Insider Activity at Clear Channel Outdoor

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 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.