AQR Capital Management LLC Raises Stock Holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

AQR Capital Management LLC increased its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 605.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 226,372 shares of the business services provider’s stock after buying an additional 194,296 shares during the quarter. AQR Capital Management LLC’s holdings in Clear Channel Outdoor were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. CCG Wealth Management LLC purchased a new position in Clear Channel Outdoor during the first quarter worth about $46,000. Point72 DIFC Ltd purchased a new position in shares of Clear Channel Outdoor in the 2nd quarter worth about $55,000. Quadrature Capital Ltd purchased a new position in shares of Clear Channel Outdoor in the 4th quarter worth about $68,000. XTX Topco Ltd raised its holdings in shares of Clear Channel Outdoor by 28.4% in the 2nd quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock worth $114,000 after purchasing an additional 17,957 shares during the period. Finally, Cowen AND Company LLC purchased a new position in shares of Clear Channel Outdoor in the 2nd quarter worth about $120,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Clear Channel Outdoor Stock Performance

CCO stock opened at $1.59 on Thursday. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $1.04 and a 1 year high of $2.06. The firm has a market cap of $774.60 million, a P/E ratio of -2.06 and a beta of 3.07. The stock has a 50-day simple moving average of $1.53 and a 200-day simple moving average of $1.52.

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 analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $558.54 million during the quarter, compared to analyst estimates of $563.75 million. On average, equities research analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Pacific Investment Management sold 46,959 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $1.69, for a total transaction of $79,360.71. Following the completion of the sale, the insider now owns 104,812,998 shares in the company, valued at $177,133,966.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.53% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on CCO shares. Barrington Research restated an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a report on Monday, August 12th. Wells Fargo & Company downgraded Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $2.75 to $1.75 in a report on Thursday, September 19th.

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.