Insider Buying: Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Buys 2,500,000 Shares of Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Arturo R. Moreno acquired 2,500,000 shares of the stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $0.97 per share, with a total value of $2,425,000.00. Following the purchase, the insider now directly owns 54,932,534 shares of the company’s stock, valued at $53,284,557.98. This trade represents a 4.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Clear Channel Outdoor Trading Down 4.2 %

Shares of CCO stock opened at $0.86 on Wednesday. The firm has a fifty day simple moving average of $1.23 and a two-hundred day simple moving average of $1.41. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $0.81 and a 12 month high of $1.88. The firm has a market capitalization of $422.43 million, a PE ratio of -2.97 and a beta of 2.72.

Institutional Investors Weigh In On Clear Channel Outdoor

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Clear Channel Outdoor by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider’s stock worth $277,000 after purchasing an additional 11,015 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Clear Channel Outdoor by 8.5% in the 4th quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider’s stock worth $242,000 after buying an additional 13,824 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in Clear Channel Outdoor by 24.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider’s stock worth $133,000 after buying an additional 18,958 shares during the last quarter. DigitalBridge Group Inc. raised its position in Clear Channel Outdoor by 2.4% in the fourth quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider’s stock worth $1,129,000 after acquiring an additional 19,100 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Clear Channel Outdoor by 7.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 376,987 shares of the business services provider’s stock valued at $518,000 after acquiring an additional 25,197 shares during the last quarter. 85.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a report on Monday, February 24th.

Clear Channel Outdoor Company 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.