DigitalBridge Group Inc. Buys 19,100 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

DigitalBridge Group Inc. raised its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 823,833 shares of the business services provider’s stock after acquiring an additional 19,100 shares during the period. DigitalBridge Group Inc. owned approximately 0.17% of Clear Channel Outdoor worth $1,129,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Graham Capital Management L.P. acquired a new position in Clear Channel Outdoor in the fourth quarter valued at about $36,000. Cibc World Markets Corp bought a new position in Clear Channel Outdoor in the 4th quarter valued at about $45,000. KLP Kapitalforvaltning AS bought a new position in Clear Channel Outdoor in the 4th quarter valued at about $53,000. Jacksonville Wealth Management LLC acquired a new position in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $62,000. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Clear Channel Outdoor during the 4th quarter worth approximately $92,000. 85.52% of the stock is currently owned by institutional investors.

Clear Channel Outdoor Trading Down 3.2%

CCO stock opened at $1.08 on Friday. The firm has a 50-day moving average price of $1.06 and a 200-day moving average price of $1.30. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $0.81 and a 12 month high of $1.88. The stock has a market capitalization of $533.97 million, a P/E ratio of -3.71 and a beta of 2.58.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported ($0.11) EPS for the quarter, beating 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.

Insider Buying and Selling

In other news, CEO Scott Wells acquired 50,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $1.08 per share, with a total value of $54,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,392,205 shares of the company’s stock, valued at $3,663,581.40. This represents a 1.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Arturo R. Moreno bought 29,289 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average price of $0.94 per share, for a total transaction of $27,531.66. Following the completion of the transaction, the insider now owns 61,445,196 shares in the company, valued at $57,758,484.24. This trade represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 7,947,442 shares of company stock worth $7,709,003 in the last 90 days. Insiders own 7.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Barrington Research downgraded Clear Channel Outdoor from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 23rd.

Clear Channel Outdoor 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.