Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Shares Sold by Deutsche Bank AG

Deutsche Bank AG decreased its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 18.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 0.30% of Clear Channel Outdoor worth $2,042,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CCO. Diameter Capital Partners LP boosted its stake in shares of Clear Channel Outdoor by 2,210.5% in the fourth quarter. Diameter Capital Partners LP now owns 10,104,095 shares of the business services provider's stock valued at $13,843,000 after purchasing an additional 9,666,788 shares during the period. Geode Capital Management LLC lifted its holdings in Clear Channel Outdoor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 7,849,191 shares of the business services provider's stock worth $10,756,000 after buying an additional 34,262 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Clear Channel Outdoor by 9.0% in the 4th quarter. JPMorgan Chase & Co. now owns 7,371,308 shares of the business services provider's stock valued at $10,099,000 after buying an additional 610,110 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Clear Channel Outdoor by 7.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 5,636,000 shares of the business services provider's stock valued at $7,721,000 after acquiring an additional 405,500 shares in the last quarter. Finally, Northern Trust Corp grew its stake 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 valued at $4,391,000 after acquiring an additional 117,516 shares in the last quarter. Hedge funds and other institutional investors own 85.52% of the company's stock.

Insiders Place Their Bets

In other Clear Channel Outdoor news, CEO Scott Wells bought 50,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $1.08 per share, for a total transaction of $54,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,392,205 shares in the company, valued at approximately $3,663,581.40. This trade represents a 1.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Arturo R. Moreno bought 200,000 shares of the company's stock in a transaction on Thursday, May 8th. The shares were acquired at an average cost of $1.09 per share, for a total transaction of $218,000.00. Following the completion of the acquisition, the insider now directly owns 62,894,358 shares of the company's stock, valued at $68,554,850.22. This trade represents a 0.32% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 7,947,442 shares of company stock valued at $7,709,003 in the last quarter. Insiders own 7.70% of the company's stock.

Clear Channel Outdoor Price Performance

Shares of CCO stock opened at $1.12 on Friday. The firm has a market cap of $553.84 million, a P/E ratio of -3.84 and a beta of 2.58. 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 fifty day moving average of $1.06 and a two-hundred day moving average of $1.30.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on CCO shares. Morgan Stanley cut their price target on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Barrington Research lowered Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 23rd.

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.

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