Arturo R. Moreno Acquires 38,815 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) major shareholder Arturo R. Moreno purchased 38,815 shares of the business's stock in a transaction on Thursday, June 5th. The stock was purchased at an average price of $1.06 per share, with a total value of $41,143.90. Following the purchase, the insider now owns 64,134,352 shares of the company's stock, valued at approximately $67,982,413.12. The trade was a 0.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Stock Performance

Shares of CCO stock traded up $0.01 during midday trading on Monday, hitting $1.15. 1,399,563 shares of the company were exchanged, compared to its average volume of 1,688,034. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $1.88. The firm has a market capitalization of $568.74 million, a P/E ratio of -3.95 and a beta of 2.59. The firm's 50 day moving average price is $1.05 and its two-hundred day moving average price is $1.26.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. The firm had revenue of $334.18 million for the quarter, compared to the consensus estimate of $337.70 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Clear Channel Outdoor by 9.0% in the fourth quarter. JPMorgan Chase & Co. now owns 7,371,308 shares of the business services provider's stock valued at $10,099,000 after acquiring an additional 610,110 shares during the period. Diameter Capital Partners LP raised its stake in Clear Channel Outdoor by 2,210.5% in the 4th quarter. Diameter Capital Partners LP now owns 10,104,095 shares of the business services provider's stock worth $13,843,000 after purchasing an additional 9,666,788 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Clear Channel Outdoor by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 7,849,191 shares of the business services provider's stock worth $10,756,000 after purchasing an additional 34,262 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Clear Channel Outdoor by 7.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 5,636,000 shares of the business services provider's stock worth $7,721,000 after purchasing an additional 405,500 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of Clear Channel Outdoor by 114.4% in the fourth quarter. Intech Investment Management LLC now owns 143,413 shares of the business services provider's stock valued at $196,000 after buying an additional 76,536 shares in the last quarter. 85.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCO has been the subject of several recent analyst reports. Barrington Research downgraded shares of Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 23rd. Morgan Stanley reduced their target price on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating for the company in a research note on Thursday, May 1st.

Clear Channel Outdoor Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.