Legal & General Group Plc Takes $602,000 Position in Clear Channel Outdoor Holdings, Inc. $CCO

Legal & General Group Plc bought a new stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 248,742 shares of the business services provider’s stock, valued at approximately $602,000.

A number of other hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new position in Clear Channel Outdoor during the 2nd quarter valued at about $73,669,000. 140 Summer Partners LP bought a new stake in Clear Channel Outdoor during the fourth quarter worth about $8,806,000. Barclays PLC grew its stake in Clear Channel Outdoor by 3,017.0% during the third quarter. Barclays PLC now owns 4,109,743 shares of the business services provider’s stock worth $6,493,000 after buying an additional 3,977,895 shares during the last quarter. Occam Crest Management LP increased its holdings in shares of Clear Channel Outdoor by 423.7% during the fourth quarter. Occam Crest Management LP now owns 3,404,300 shares of the business services provider’s stock worth $7,524,000 after buying an additional 2,754,300 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Clear Channel Outdoor during the fourth quarter worth approximately $5,925,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Clear Channel Outdoor

In other news, Director Raymond White sold 2,500,900 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $2.40, for a total transaction of $6,002,160.00. Following the completion of the sale, the director owned 91,003 shares in the company, valued at $218,407.20. The trade was a 96.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.70% of the stock is currently owned by insiders.

Clear Channel Outdoor Trading Up 0.2%

Shares of NYSE CCO opened at $2.38 on Wednesday. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $1.24 and a 1-year high of $2.44. The company has a 50-day moving average of $2.39 and a two-hundred day moving average of $2.39. The company has a market cap of $1.21 billion, a PE ratio of -11.36 and a beta of 1.95.

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

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.