Deutsche Bank AG Decreases Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Deutsche Bank AG lessened its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,490,694 shares of the business services provider's stock after selling 340,714 shares during the quarter. Deutsche Bank AG owned about 0.30% of Clear Channel Outdoor worth $2,042,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CCO. MetLife Investment Management LLC raised its stake in Clear Channel Outdoor by 8.5% in the 4th quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider's stock valued at $242,000 after purchasing an additional 13,824 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Clear Channel Outdoor by 24.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider's stock worth $133,000 after buying an additional 18,958 shares in the last quarter. DigitalBridge Group Inc. raised its position in shares of Clear Channel Outdoor by 2.4% in the fourth quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider's stock valued at $1,129,000 after buying an additional 19,100 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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 acquiring an additional 25,197 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in Clear Channel Outdoor during the fourth quarter worth about $45,000. 85.52% of the stock is owned by institutional investors and hedge funds.

Clear Channel Outdoor Trading Down 0.5%

CCO traded down $0.01 on Wednesday, hitting $1.08. The company had a trading volume of 131,307 shares, compared to its average volume of 1,704,191. The company's fifty day moving average price is $1.06 and its 200 day moving average price is $1.29. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $0.81 and a 1 year high of $1.88. The firm has a market cap of $533.97 million, a P/E ratio of -3.71 and a beta of 2.58.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. The company had revenue of $334.18 million during the quarter, compared to analysts' expectations of $337.70 million.

Insiders Place Their Bets

In other news, major shareholder Arturo R. Moreno acquired 200,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was acquired at an average cost of $1.09 per share, with a total value of $218,000.00. Following the completion of the purchase, the insider now owns 62,894,358 shares of the company's stock, valued at $68,554,850.22. This represents a 0.32% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Scott Wells bought 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $1.08 per share, for a total transaction of $54,000.00. Following the purchase, the chief executive officer now owns 3,392,205 shares in the company, valued at $3,663,581.40. This represents a 1.50% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 7,947,442 shares of company stock worth $7,709,003 over the last ninety days. Corporate insiders own 7.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CCO. Barrington Research lowered Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price objective on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating on the stock in a report on Thursday, May 1st.

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.