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 acquired 38,815 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average cost of $1.06 per share, for a total transaction of $41,143.90. Following the completion of the purchase, the insider now owns 64,134,352 shares in the company, valued at $67,982,413.12. The trade was a 0.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Price Performance

NYSE:CCO traded up $0.01 on Thursday, reaching $1.16. The stock had a trading volume of 1,366,753 shares, compared to its average volume of 1,697,999. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $0.81 and a 12-month high of $1.88. The firm's fifty day moving average is $1.06 and its two-hundred day moving average is $1.25. The company has a market cap of $573.71 million, a price-to-earnings ratio of -3.98 and a beta of 2.59.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Inspire Investing LLC boosted its holdings in Clear Channel Outdoor by 5.1% in the 1st quarter. Inspire Investing LLC now owns 306,009 shares of the business services provider's stock worth $340,000 after acquiring an additional 14,888 shares during the period. Millennium Management LLC increased its holdings in shares of Clear Channel Outdoor by 22.9% in the 1st quarter. Millennium Management LLC now owns 4,893,895 shares of the business services provider's stock valued at $5,432,000 after acquiring an additional 912,632 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Clear Channel Outdoor by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider's stock worth $234,000 after buying an additional 8,976 shares during the last quarter. State of Wyoming grew its holdings in shares of Clear Channel Outdoor by 33.6% during the first quarter. State of Wyoming now owns 2,129,780 shares of the business services provider's stock valued at $2,364,000 after purchasing an additional 535,316 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Clear Channel Outdoor by 6.9% in the first quarter. Gamco Investors INC. ET AL now owns 6,023,950 shares of the business services provider's stock worth $6,687,000 after buying an additional 387,950 shares during the period. 85.52% of the stock is owned by institutional investors and hedge funds.

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.