Gamco Investors INC. ET AL Purchases 776,500 Shares of Clear Channel Outdoor Holdings, Inc. $CCO

Gamco Investors INC. ET AL increased its position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,126,375 shares of the business services provider’s stock after buying an additional 776,500 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Clear Channel Outdoor were worth $17,959,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CCO. CWM LLC grew its holdings in shares of Clear Channel Outdoor by 97.9% during the third quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock worth $26,000 after buying an additional 8,248 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Clear Channel Outdoor during the fourth quarter worth about $31,000. Advisors Capital Management LLC grew its holdings in shares of Clear Channel Outdoor by 91.7% during the third quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock worth $36,000 after buying an additional 11,000 shares in the last quarter. Zacks Investment Management bought a new position in shares of Clear Channel Outdoor during the third quarter worth about $36,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Clear Channel Outdoor during the third quarter worth about $45,000. 85.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CCO. TD Cowen reiterated a “hold” rating and set a $2.43 price objective (down from $2.50) on shares of Clear Channel Outdoor in a report on Monday, April 6th. Wells Fargo & Company increased their price objective on Clear Channel Outdoor from $2.00 to $2.43 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Friday, March 27th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $2.29.

Clear Channel Outdoor Price Performance

Shares of Clear Channel Outdoor stock opened at $2.40 on Tuesday. The business has a fifty day simple moving average of $2.38 and a two-hundred day simple moving average of $2.20. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $1.00 and a 1 year high of $2.43. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -13.31 and a beta of 1.99.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $373.86 million during the quarter, compared to analyst estimates of $348.71 million. As a group, equities analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

About Clear Channel Outdoor

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.