Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 5.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 759,013 shares of the business services provider’s stock after acquiring an additional 38,913 shares during the period. Victory Capital Management Inc. owned about 0.16% of Clear Channel Outdoor worth $1,214,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in Clear Channel Outdoor in the 3rd quarter valued at $300,000. Ground Swell Capital LLC acquired a new stake in shares of Clear Channel Outdoor in the third quarter valued at about $34,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Clear Channel Outdoor during the third quarter worth about $34,000. Stratos Wealth Advisors LLC acquired a new position in shares of Clear Channel Outdoor during the 3rd quarter worth about $40,000. Finally, Inspire Investing LLC purchased a new position in Clear Channel Outdoor in the 3rd quarter valued at about $410,000. 85.52% of the stock is owned by hedge funds and other institutional investors.

Clear Channel Outdoor Price Performance

NYSE CCO opened at $1.57 on Wednesday. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $1.26 and a 12 month high of $2.06. The company has a market capitalization of $767.86 million, a price-to-earnings ratio of -5.41 and a beta of 3.08. The firm’s fifty day moving average price is $1.58 and its 200 day moving average price is $1.53.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a research note on Thursday, October 31st. TD Cowen dropped 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. Finally, Wells Fargo & Company cut shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $2.75 to $1.75 in a research report on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Clear Channel Outdoor currently has a consensus rating of “Hold” and an average price target of $2.16.

Insider Activity

In other news, major shareholder Arturo R. Moreno acquired 250,000 shares of the company’s 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 directly owns 52,182,534 shares of the company’s stock, valued at approximately $75,664,674.30. This trade represents a 0.48 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 7.20% of the company’s stock.

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.