Clear Channel Outdoor (NYSE:CCO) Trading Up 4.4% on Insider Buying Activity

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report)'s share price was up 4.4% during trading on Tuesday following insider buying activity. The company traded as high as $1.08 and last traded at $1.07. Approximately 609,195 shares changed hands during trading, a decline of 64% from the average daily volume of 1,675,060 shares. The stock had previously closed at $1.02.

Specifically, major shareholder Arturo R. Moreno acquired 144,601 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were purchased at an average cost of $1.02 per share, with a total value of $147,493.02. Following the acquisition, the insider now directly owns 61,643,729 shares in the company, valued at $62,876,603.58. This represents a 0.24 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Arturo R. Moreno acquired 29,289 shares of the firm's stock in a transaction on Monday, April 21st. The stock was purchased at an average cost of $0.94 per share, for a total transaction of $27,531.66. Following the completion of the acquisition, the insider now owns 61,445,196 shares in the company, valued at approximately $57,758,484.24. This represents a 0.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Ratings Changes

Separately, Barrington Research downgraded Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 23rd.

Clear Channel Outdoor Trading Up 4.4 %

The firm has a market capitalization of $521.91 million, a P/E ratio of -3.67 and a beta of 2.72. The firm has a 50-day moving average of $1.11 and a two-hundred day moving average of $1.35.

Institutional Investors Weigh In On Clear Channel Outdoor

Hedge funds have recently made changes to their positions in the stock. Graham Capital Management L.P. acquired a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $36,000. Cibc World Markets Corp acquired a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $45,000. Teacher Retirement System of Texas acquired a new stake in shares of Clear Channel Outdoor in the 1st quarter valued at approximately $39,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $53,000. Finally, Jacksonville Wealth Management LLC acquired a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $62,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

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.

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