ExodusPoint Capital Management LP Trims Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

ExodusPoint Capital Management LP lessened its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 76.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,900 shares of the business services provider's stock after selling 504,788 shares during the period. ExodusPoint Capital Management LP's holdings in Clear Channel Outdoor were worth $212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Cibc World Markets Corp purchased a new position in Clear Channel Outdoor in the fourth quarter worth $45,000. KLP Kapitalforvaltning AS bought a new stake in shares of Clear Channel Outdoor during the 4th quarter worth $53,000. Jacksonville Wealth Management LLC purchased a new position in shares of Clear Channel Outdoor in the 4th quarter worth about $62,000. Intech Investment Management LLC grew its position in Clear Channel Outdoor by 114.4% during the fourth quarter. Intech Investment Management LLC now owns 143,413 shares of the business services provider's stock valued at $196,000 after buying an additional 76,536 shares during the period. Finally, Empowered Funds LLC purchased a new stake in Clear Channel Outdoor during the fourth quarter worth about $216,000. 85.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 112,722 shares of Clear Channel Outdoor stock in a transaction that occurred on Friday, April 11th. The stock was acquired at an average cost of $1.01 per share, for a total transaction of $113,849.22. Following the purchase, the insider now owns 59,729,814 shares of the company's stock, valued at approximately $60,327,112.14. This represents a 0.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have bought 7,093,366 shares of company stock worth $6,805,848. Company insiders own 1.53% of the company's stock.

Clear Channel Outdoor Price Performance

Shares of NYSE CCO traded up $0.02 during trading on Friday, reaching $0.96. 1,801,100 shares of the stock traded hands, compared to its average volume of 1,674,584. The stock has a market capitalization of $468.01 million, a P/E ratio of -3.29 and a beta of 2.72. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $0.81 and a 52-week high of $1.88. The company has a 50-day moving average of $1.16 and a 200-day moving average of $1.38.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an "outperform" rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a research note on Monday, February 24th.

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.