Arturo R. Moreno Purchases 500,000 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Arturo R. Moreno bought 500,000 shares of the business’s stock in a transaction on Wednesday, April 9th. The stock was purchased at an average cost of $1.00 per share, with a total value of $500,000.00. Following the purchase, the insider now owns 59,343,365 shares of the company’s stock, valued at $59,343,365. This represents a 0.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Clear Channel Outdoor Price Performance

Clear Channel Outdoor stock traded down $0.02 during trading hours on Thursday, reaching $1.02. The company had a trading volume of 2,109,684 shares, compared to its average volume of 1,686,977. The firm has a market cap of $498.39 million, a price-to-earnings ratio of -3.51 and a beta of 2.72. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $0.81 and a 12-month high of $1.88. The company has a 50-day moving average price of $1.22 and a 200 day moving average price of $1.41.

Institutional Investors Weigh In On Clear Channel Outdoor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Graham Capital Management L.P. purchased a new position in shares of Clear Channel Outdoor in the fourth quarter valued at about $36,000. Cibc World Markets Corp purchased a new position in Clear Channel Outdoor during the fourth quarter valued at $45,000. KLP Kapitalforvaltning AS bought a new stake in shares of Clear Channel Outdoor during the 4th quarter valued at $53,000. Jacksonville Wealth Management LLC purchased a new stake in shares of Clear Channel Outdoor in the 4th quarter worth about $62,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Clear Channel Outdoor in the 4th quarter worth about $92,000. 85.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed an “outperform” rating and set 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.