Arturo R. Moreno Purchases 250,000 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Arturo R. Moreno purchased 250,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of $1.45 per share, for a total transaction of $362,500.00. Following the transaction, the insider now directly owns 52,182,534 shares in the company, valued at approximately $75,664,674.30. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Stock Down 1.8 %

CCO stock opened at $1.60 on Friday. The stock has a 50-day simple moving average of $1.57 and a two-hundred day simple moving average of $1.52. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $1.11 and a twelve month high of $2.06. The firm has a market capitalization of $782.52 million, a PE ratio of -5.52 and a beta of 3.08.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings data on Wednesday, August 7th. The business services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $558.54 million for the quarter, compared to the consensus estimate of $563.75 million. On average, equities research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CCO. Millennium Management LLC increased its position in shares of Clear Channel Outdoor by 44.0% in the second quarter. Millennium Management LLC now owns 7,332,360 shares of the business services provider’s stock worth $10,339,000 after purchasing an additional 2,242,205 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in Clear Channel Outdoor by 21.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider’s stock worth $5,658,000 after buying an additional 610,500 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of Clear Channel Outdoor by 25.9% in the 2nd 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 last quarter. Whitebox Advisors LLC purchased a new stake in shares of Clear Channel Outdoor during the 2nd quarter valued at $2,287,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Clear Channel Outdoor by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,406,519 shares of the business services provider’s stock worth $1,983,000 after acquiring an additional 49,714 shares during the last quarter. Institutional investors own 85.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barrington Research reaffirmed an “outperform” rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a report on Thursday, October 31st. Wells Fargo & Company lowered shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $2.75 to $1.75 in a research report on Thursday, September 19th. Finally, TD Cowen cut their price objective 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Clear Channel Outdoor currently has a consensus rating of “Hold” and an average target price 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.