OMERS ADMINISTRATION Corp Acquires Shares of 962,800 Clear Channel Outdoor Holdings, Inc. $CCO

OMERS ADMINISTRATION Corp bought a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 962,800 shares of the business services provider’s stock, valued at approximately $2,330,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Clear Channel Outdoor by 109.4% in the first quarter. Dimensional Fund Advisors LP now owns 899,187 shares of the business services provider’s stock valued at $2,131,000 after buying an additional 469,876 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Clear Channel Outdoor by 11.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 9,085,775 shares of the business services provider’s stock worth $21,533,000 after buying an additional 959,400 shares during the period. Capula Management Ltd bought a new stake in shares of Clear Channel Outdoor in the 1st quarter valued at about $2,200,000. Sentinel Dome Partners LLC acquired a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $3,470,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in Clear Channel Outdoor by 1,282.3% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 760,280 shares of the business services provider’s stock worth $1,802,000 after acquiring an additional 705,280 shares during the last quarter. Institutional investors own 85.52% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Clear Channel Outdoor from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Clear Channel Outdoor has an average rating of “Reduce” and a consensus price target of $2.29.

Clear Channel Outdoor Trading Up 0.6%

CCO stock opened at $2.38 on Wednesday. The business’s 50-day moving average price is $2.40 and its two-hundred day moving average price is $2.39. The firm has a market cap of $1.21 billion, a PE ratio of -11.31 and a beta of 1.95. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $1.22 and a 1-year high of $2.44.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings results on Wednesday, August 5th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $438.04 million during the quarter, compared to the consensus estimate of $423.62 million. On average, analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.05 earnings per share for the current year.

Insider Transactions at Clear Channel Outdoor

In other Clear Channel Outdoor news, Director Raymond T. White sold 2,500,900 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $2.40, for a total transaction of $6,002,160.00. Following the sale, the director directly owned 91,003 shares in the company, valued at approximately $218,407.20. This trade represents a 96.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 26,239,967 shares of company stock worth $62,975,921. 7.20% of the stock is currently owned by corporate insiders.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.