Charles Schwab Investment Management Inc. Sells 945,141 Shares of Clear Channel Outdoor Holdings, Inc. $CCO

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Clear Channel Outdoor Holdings by 20.7%, selling 945,141 shares during the first quarter, leaving them with approximately 3.6 million shares valued at $4 million.
• Major shareholder Arturo R. Moreno purchased 1 million shares of Clear Channel Outdoor on July 31 for $1.07 each, increasing his ownership stake by 1.55%.
• The stock has experienced significant price fluctuations, with a 52-week low of $0.81 and a high of $1.77, and currently trades at $1.26.

Charles Schwab Investment Management Inc. lowered its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 20.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,611,351 shares of the business services provider's stock after selling 945,141 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.74% of Clear Channel Outdoor worth $4,009,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the business. Wells Fargo & Company MN grew its holdings in shares of Clear Channel Outdoor by 22.9% during the fourth quarter. Wells Fargo & Company MN now owns 246,705 shares of the business services provider's stock worth $338,000 after purchasing an additional 46,050 shares in the last quarter. Barclays PLC grew its holdings in shares of Clear Channel Outdoor by 11.5% during the fourth quarter. Barclays PLC now owns 580,611 shares of the business services provider's stock worth $795,000 after purchasing an additional 59,948 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Clear Channel Outdoor by 8.5% during the fourth quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider's stock worth $242,000 after purchasing an additional 13,824 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Clear Channel Outdoor by 7.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 376,987 shares of the business services provider's stock worth $518,000 after purchasing an additional 25,197 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Clear Channel Outdoor by 3.8% during the fourth quarter. Northern Trust Corp now owns 3,205,102 shares of the business services provider's stock worth $4,391,000 after purchasing an additional 117,516 shares in the last quarter. Institutional investors own 85.52% of the company's stock.

Clear Channel Outdoor Stock Performance

NYSE:CCO traded up $0.01 during mid-day trading on Wednesday, reaching $1.27. The stock had a trading volume of 1,635,599 shares, compared to its average volume of 2,958,974. The firm has a 50 day moving average price of $1.18 and a two-hundred day moving average price of $1.14. The stock has a market capitalization of $628.72 million, a P/E ratio of 31.63 and a beta of 2.61. Clear Channel Outdoor Holdings, Inc. has a one year low of $0.81 and a one year high of $1.77.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $402.81 million during the quarter, compared to the consensus estimate of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Insiders Place Their Bets

In related news, major shareholder Arturo R. Moreno acquired 1,000,000 shares of the stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $1.07 per share, for a total transaction of $1,070,000.00. Following the completion of the transaction, the insider owned 65,612,859 shares of the company's stock, valued at $70,205,759.13. This trade represents a 1.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased a total of 1,517,322 shares of company stock valued at $1,632,717 in the last ninety days. Insiders own 7.20% of the company's stock.

Analyst Ratings Changes

Separately, Barrington Research reissued a "market perform" rating on shares of Clear Channel Outdoor in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $2.04.

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.