Algert Global LLC Sells 133,942 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Algert Global LLC reduced its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 20.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 508,678 shares of the business services provider’s stock after selling 133,942 shares during the period. Algert Global LLC owned 0.10% of Clear Channel Outdoor worth $697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Whitebox Advisors LLC boosted its position in shares of Clear Channel Outdoor by 2.6% in the 4th quarter. Whitebox Advisors LLC now owns 1,854,586 shares of the business services provider’s stock worth $2,541,000 after purchasing an additional 47,100 shares during the last quarter. Third Point LLC boosted its position in shares of Clear Channel Outdoor by 5.9% in the 4th quarter. Third Point LLC now owns 900,000 shares of the business services provider’s stock worth $1,233,000 after purchasing an additional 50,000 shares during the last quarter. Voleon Capital Management LP bought a new position in shares of Clear Channel Outdoor in the 4th quarter worth $303,000. Northern Trust Corp boosted its position in shares of Clear Channel Outdoor by 3.8% in the 4th quarter. Northern Trust Corp now owns 3,205,102 shares of the business services provider’s stock worth $4,391,000 after purchasing an additional 117,516 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Clear Channel Outdoor by 7.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 376,987 shares of the business services provider’s stock worth $518,000 after acquiring an additional 25,197 shares in the last quarter. 85.52% of the stock is currently owned by institutional investors.

Clear Channel Outdoor Trading Up 3.2%

CCO stock opened at $1.12 on Monday. The business’s 50-day moving average price is $1.07 and its two-hundred day moving average price is $1.32. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $0.81 and a 1-year high of $1.88. The firm has a market cap of $546.41 million, a PE ratio of -3.84 and a beta of 2.58.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley reduced their target price on Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Barrington Research lowered Clear Channel Outdoor from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 23rd.

Insider Buying and Selling at Clear Channel Outdoor

In related news, CEO Scott Wells bought 50,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $1.08 per share, with a total value of $54,000.00. Following the completion of the transaction, the chief executive officer now owns 3,392,205 shares in the company, valued at $3,663,581.40. The trade was a 1.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Arturo R. Moreno bought 2,500,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average cost of $0.94 per share, for a total transaction of $2,350,000.00. Following the transaction, the insider now owns 57,432,534 shares of the company’s stock, valued at $53,986,581.96. The trade was a 4.55% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 7,747,442 shares of company stock valued at $7,491,003 in the last 90 days. 7.70% of the stock is currently owned by company insiders.

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.