1,738,070 Shares in Clear Channel Outdoor Holdings, Inc. $CCO Purchased by Readystate Asset Management LP

Key Points

• Readystate Asset Management acquired 1.74 million Clear Channel Outdoor shares worth approximately $4.2 million, while institutional investors collectively own 85.52% of the company.
• Clear Channel Outdoor reported quarterly revenue of $438.04 million, exceeding expectations of $423.62 million, while EPS of negative $0.01 matched forecasts. Shares opened at $2.38 and remain near their 52-week high of $2.44.
• Analysts maintain a consensus “Reduce” rating with a $2.29 price target, and insiders have sold 26.2 million shares worth about $63 million over the past 90 days.

Readystate Asset Management LP bought a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,738,070 shares of the business services provider's stock, valued at approximately $4,206,000. Readystate Asset Management LP owned 0.34% of Clear Channel Outdoor at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ieq Capital LLC lifted its position in shares of Clear Channel Outdoor by 8.3% during the fourth quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider's stock worth $130,000 after purchasing an additional 4,493 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Clear Channel Outdoor by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider's stock valued at $234,000 after purchasing an additional 8,976 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Clear Channel Outdoor during the 4th quarter worth approximately $27,000. EntryPoint Capital LLC purchased a new stake in Clear Channel Outdoor during the 4th quarter worth approximately $28,000. Finally, State Street Corp lifted its holdings in Clear Channel Outdoor by 0.6% during the 4th quarter. State Street Corp now owns 2,454,158 shares of the business services provider's stock worth $5,424,000 after buying an additional 13,630 shares in the last quarter. 85.52% of the stock is owned by institutional investors and hedge funds.

Clear Channel Outdoor Stock Performance

Shares of Clear Channel Outdoor stock opened at $2.38 on Monday. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.24 and a one year high of $2.44. The company has a market cap of $1.21 billion, a PE ratio of -11.33 and a beta of 1.95. The business has a 50-day simple moving average of $2.40 and a 200-day simple moving average of $2.39.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The business services provider reported ($0.01) EPS for the quarter, meeting analysts' consensus estimates of ($0.01). The firm had revenue of $438.04 million during the quarter, compared to analysts' expectations of $423.62 million. On average, sell-side analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Clear Channel Outdoor from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $2.29.

Insiders Place Their Bets

In other news, Director Raymond White sold 2,500,900 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $2.40, for a total transaction of $6,002,160.00. Following the completion of the transaction, the director directly owned 91,003 shares of the company's stock, valued at approximately $218,407.20. This represents a 96.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 26,239,967 shares of company stock valued at $62,975,921 in the last 90 days. 7.20% of the stock is owned by company insiders.

Clear Channel Outdoor Profile

Clear Channel Outdoor Holdings, Inc NYSE: CCO is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company's portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.

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