CLEAR CHANNEL O/SH (NYSE:CCO) CEO Scott Wells bought 15,000 shares of CLEAR CHANNEL O/SH stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $2.36 per share, with a total value of $35,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NYSE:CCO traded down $0.02 during trading hours on Friday, reaching $2.24. 7,882,900 shares of the company’s stock were exchanged, compared to its average volume of 7,047,168. The company has a market capitalization of $1.12 billion, a P/E ratio of -3.86 and a beta of 0.72. CLEAR CHANNEL O/SH has a 12 month low of $2.06 and a 12 month high of $6.38. The business’s 50-day simple moving average is $3.64 and its two-hundred day simple moving average is $4.81.
A number of institutional investors have recently bought and sold shares of CCO. Allianz Asset Management GmbH acquired a new position in CLEAR CHANNEL O/SH in the 2nd quarter worth approximately $492,110,000. Vanguard Group Inc. boosted its stake in CLEAR CHANNEL O/SH by 437.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,594,873 shares of the business services provider’s stock worth $92,487,000 after purchasing an additional 15,950,271 shares during the period. Invesco Ltd. boosted its stake in CLEAR CHANNEL O/SH by 19,175.7% in the 2nd quarter. Invesco Ltd. now owns 15,440,619 shares of the business services provider’s stock worth $72,880,000 after purchasing an additional 15,360,515 shares during the period. Third Point LLC acquired a new position in CLEAR CHANNEL O/SH in the 2nd quarter worth approximately $37,760,000. Finally, D. E. Shaw & Co. Inc. boosted its stake in CLEAR CHANNEL O/SH by 4,499.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 7,098,359 shares of the business services provider’s stock worth $33,504,000 after purchasing an additional 6,944,029 shares during the period. 9.22% of the stock is owned by hedge funds and other institutional investors.
CCO has been the subject of a number of research reports. Wolfe Research cut shares of CLEAR CHANNEL O/SH from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. ValuEngine cut shares of CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Barrington Research restated a “buy” rating and set a $6.50 target price on shares of CLEAR CHANNEL O/SH in a report on Monday, April 29th. Zacks Investment Research upgraded shares of CLEAR CHANNEL O/SH from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a report on Friday, August 9th. Finally, TheStreet cut shares of CLEAR CHANNEL O/SH from a “c-” rating to a “d” rating in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. CLEAR CHANNEL O/SH presently has a consensus rating of “Hold” and a consensus target price of $10.63.
CLEAR CHANNEL O/SH Company Profile
Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.
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