Alberta Investment Management Corp Makes New $1.94 Million Investment in Clear Channel Outdoor Holdings, Inc. $CCO

Key Points

• Alberta Investment Management Corp acquired 800,000 Clear Channel Outdoor shares worth approximately $1.94 million, giving it a 0.16% stake. Institutional investors collectively own 85.52% of the company.
• Clear Channel Outdoor reported quarterly revenue of $438.04 million, exceeding analyst expectations of $423.62 million, while adjusted earnings of a $0.01 loss per share matched estimates.
• Investor sentiment remains cautious: analysts rate the stock “Reduce,” with a $2.29 average price target, while insiders have sold more than 26.2 million shares worth roughly $63 million over the past 90 days.

Alberta Investment Management Corp bought a new position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 800,000 shares of the business services provider's stock, valued at approximately $1,936,000. Alberta Investment Management Corp owned approximately 0.16% of Clear Channel Outdoor as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CCO. Dimensional Fund Advisors LP raised its holdings in shares of Clear Channel Outdoor by 109.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 899,187 shares of the business services provider's stock valued at $2,131,000 after acquiring an additional 469,876 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Clear Channel Outdoor by 11.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 9,085,775 shares of the business services provider's stock worth $21,533,000 after acquiring an additional 959,400 shares during the last quarter. Sentinel Dome Partners LLC purchased a new position in Clear Channel Outdoor in the fourth quarter worth $3,470,000. Occam Crest Management LP grew its position in Clear Channel Outdoor by 423.7% in the fourth quarter. Occam Crest Management LP now owns 3,404,300 shares of the business services provider's stock worth $7,524,000 after acquiring an additional 2,754,300 shares in the last quarter. Finally, Capula Management Ltd bought a new position in Clear Channel Outdoor in the first quarter valued at $2,200,000. 85.52% of the stock is currently owned by institutional investors.

Clear Channel Outdoor Stock Performance

CCO stock opened at $2.32 on Tuesday. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -11.05 and a beta of 1.95. The firm has a 50 day moving average price of $2.40 and a 200-day moving average price of $2.38. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $1.15 and a 52-week high of $2.44.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its earnings results on Wednesday, August 5th. The business services provider reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $438.04 million during the quarter, compared to the consensus estimate of $423.62 million. As a group, sell-side analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Clear Channel Outdoor

In related news, Director Raymond T. White sold 2,500,900 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $2.40, for a total value of $6,002,160.00. Following the completion of the transaction, the director directly owned 91,003 shares in the company, valued at $218,407.20. The trade was a 96.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 26,239,967 shares of company stock worth $62,975,921 over the last ninety days. 7.20% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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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