Capula Management Ltd Makes New $2.20 Million Investment in Clear Channel Outdoor Holdings, Inc. $CCO

Capula Management Ltd purchased a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the first quarter, Holdings Channel.com reports. The firm purchased 928,318 shares of the business services provider’s stock, valued at approximately $2,200,000.

Other institutional investors have also made changes to their positions in the company. Transmarket Holdings LP acquired a new position in Clear Channel Outdoor in the first quarter worth approximately $36,000. 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 acquiring an additional 469,876 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Clear Channel Outdoor in the first quarter worth approximately $474,000. Credit Industriel ET Commercial bought a new stake in Clear Channel Outdoor in the first quarter worth approximately $2,010,000. Finally, SG Americas Securities LLC increased its stake in shares of Clear Channel Outdoor by 856.6% during the 1st quarter. SG Americas Securities LLC now owns 225,920 shares of the business services provider’s stock worth $535,000 after purchasing an additional 202,302 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Clear Channel Outdoor

In other news, Director Raymond T. White sold 2,500,900 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 91,003 shares in the company, valued at approximately $218,407.20. The trade was a 96.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 26,239,967 shares of company stock valued at $62,975,921. 7.70% of the stock is currently owned by company insiders.

Clear Channel Outdoor Stock Performance

Shares of CCO stock opened at $2.42 on Friday. The stock’s 50 day simple moving average is $2.40 and its 200 day simple moving average is $2.34. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $1.00 and a twelve month high of $2.43. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -13.42 and a beta of 1.95.

Clear Channel Outdoor (NYSE:CCO) last announced its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $373.86 million during the quarter, compared to analysts’ expectations of $348.71 million. On average, analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CCO shares. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Wednesday, June 24th. TD Cowen reiterated a “hold” rating and issued a $2.43 price objective (down from $2.50) on shares of Clear Channel Outdoor in a report on Monday, April 6th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $2.29.

Clear Channel Outdoor 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.