Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Arturo R. Moreno Acquires 200,000 Shares

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) major shareholder Arturo R. Moreno bought 200,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $1.09 per share, for a total transaction of $218,000.00. Following the transaction, the insider now owns 62,894,358 shares in the company, valued at $68,554,850.22. The trade was a 0.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Price Performance

CCO stock traded down $0.03 during trading hours on Friday, reaching $1.18. The stock had a trading volume of 1,550,396 shares, compared to its average volume of 1,702,068. The stock has a 50-day simple moving average of $1.06 and a 200 day simple moving average of $1.31. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $0.81 and a fifty-two week high of $1.88. The stock has a market capitalization of $575.82 million, a PE ratio of -4.05 and a beta of 2.58.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on CCO shares. Morgan Stanley lowered 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 report on Thursday, May 1st. Barrington Research cut shares of Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 23rd.

Hedge Funds Weigh In On Clear Channel Outdoor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its stake in shares of Clear Channel Outdoor by 271.2% during the 3rd quarter. Barclays PLC now owns 520,663 shares of the business services provider's stock worth $833,000 after buying an additional 380,408 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Clear Channel Outdoor by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider's stock worth $10,818,000 after acquiring an additional 54,566 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Clear Channel Outdoor by 31.2% during the fourth quarter. SG Americas Securities LLC now owns 294,947 shares of the business services provider's stock worth $404,000 after acquiring an additional 70,196 shares during the period. Inspire Investing LLC grew its position in shares of Clear Channel Outdoor by 13.6% in the fourth quarter. Inspire Investing LLC now owns 291,121 shares of the business services provider's stock valued at $399,000 after purchasing an additional 34,759 shares during the last quarter. Finally, Jacksonville Wealth Management LLC acquired a new position in shares of Clear Channel Outdoor in the fourth quarter valued at approximately $62,000. 85.52% of the stock is owned by institutional investors.

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.