Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Purchases $218,000.00 in Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) major shareholder Arturo R. Moreno purchased 200,000 shares of the business's stock in a transaction on Thursday, May 8th. The stock was acquired at an average price of $1.09 per share, for a total transaction of $218,000.00. Following the completion of the purchase, the insider now owns 62,894,358 shares of the company's stock, valued at $68,554,850.22. This represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Clear Channel Outdoor Stock Performance

CCO traded down $0.01 during trading on Thursday, reaching $1.18. The company's stock had a trading volume of 988,170 shares, compared to its average volume of 1,687,274. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $0.81 and a 52-week high of $1.88. The company's fifty day moving average price is $1.06 and its 200-day moving average price is $1.32. The company has a market capitalization of $575.82 million, a price-to-earnings ratio of -4.05 and a beta of 2.58.

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, beating analysts' consensus estimates of ($0.13) by $0.02. The business had revenue of $334.18 million during the quarter, compared to analysts' expectations of $337.70 million.

Analysts Set New Price Targets

CCO has been the topic of a number of research analyst reports. Barrington Research cut Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 23rd. Morgan Stanley cut their target price on 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.

Institutional Investors Weigh In On Clear Channel Outdoor

A number of institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Clear Channel Outdoor by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider's stock worth $277,000 after acquiring an additional 11,015 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Clear Channel Outdoor by 8.5% during the 4th quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider's stock worth $242,000 after acquiring an additional 13,824 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of Clear Channel Outdoor by 20.7% during the 1st quarter. XTX Topco Ltd now owns 100,929 shares of the business services provider's stock worth $112,000 after acquiring an additional 17,292 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Clear Channel Outdoor by 24.2% during the 4th quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider's stock worth $133,000 after acquiring an additional 18,958 shares in the last quarter. Finally, DigitalBridge Group Inc. boosted its stake in shares of Clear Channel Outdoor by 2.4% during the 4th quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider's stock worth $1,129,000 after acquiring an additional 19,100 shares in the last quarter. Hedge funds and other institutional investors own 85.52% of the company's stock.

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.