Arturo R. Moreno Purchases 38,815 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Arturo R. Moreno purchased 38,815 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $1.06 per share, for a total transaction of $41,143.90. Following the completion of the transaction, the insider now owns 64,134,352 shares of the company’s stock, valued at approximately $67,982,413.12. This trade represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Stock Up 3.1%

Shares of NYSE CCO opened at $1.18 on Wednesday. The stock’s 50-day simple moving average is $1.05 and its two-hundred day simple moving average is $1.26. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $0.81 and a twelve month high of $1.88. The firm has a market capitalization of $583.64 million, a P/E ratio of -4.05 and a beta of 2.59.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $334.18 million during the quarter, compared to the consensus estimate of $337.70 million.

Hedge Funds Weigh In On Clear Channel Outdoor

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new stake in shares of Clear Channel Outdoor during the 1st quarter valued at $31,000. Graham Capital Management L.P. bought a new position in Clear Channel Outdoor in the fourth quarter valued at $36,000. Teacher Retirement System of Texas purchased a new stake in Clear Channel Outdoor during the first quarter valued at about $39,000. Cibc World Markets Corp purchased a new stake in Clear Channel Outdoor during the fourth quarter valued at about $45,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Clear Channel Outdoor during the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Analyst Upgrades and Downgrades

CCO has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Barrington Research downgraded shares of Clear Channel Outdoor from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 23rd.

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.