Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Buys $24,734.04 in Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) major shareholder Arturo R. Moreno acquired 23,334 shares of Clear Channel Outdoor stock in a transaction that occurred on Wednesday, May 28th. The stock was acquired at an average cost of $1.06 per share, for a total transaction of $24,734.04. Following the completion of the purchase, the insider now directly owns 63,487,350 shares of the company's stock, valued at $67,296,591. This represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Stock Performance

Clear Channel Outdoor stock traded down $0.03 during mid-day trading on Monday, reaching $1.05. The stock had a trading volume of 1,477,850 shares, compared to its average volume of 1,701,455. The firm has a market capitalization of $519.07 million, a PE ratio of -3.60 and a beta of 2.58. 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's 50-day simple moving average is $1.05 and its 200-day simple moving average is $1.27.

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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $334.18 million during the quarter, compared to analyst estimates of $337.70 million.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CCO. Millennium Management LLC lifted its position in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Clear Channel Outdoor by 4.4% during 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 purchasing an additional 8,976 shares in the last quarter. State of Wyoming raised its stake in shares of Clear Channel Outdoor by 33.6% in the first quarter. State of Wyoming now owns 2,129,780 shares of the business services provider's stock worth $2,364,000 after purchasing an additional 535,316 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of 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 valued at $6,687,000 after purchasing an additional 387,950 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in shares of Clear Channel Outdoor by 2.4% during the first quarter. Gabelli Funds LLC now owns 3,085,000 shares of the business services provider's stock valued at $3,424,000 after buying an additional 71,076 shares during the last quarter. 85.52% of the stock is currently 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.