Gamco Investors INC. ET AL Acquires 387,950 Shares of Clear Channel Outdoor Holdings, Inc. $CCO

Key Points

• Gamco Investors INC. ET AL increased its stake in Clear Channel Outdoor Holdings, Inc. by 6.9%, now owning approximately $6.69 million worth of shares.
• Clear Channel Outdoor reported a revenue of $402.81 million for the recent quarter, which surpassed analysts' estimates of $397.37 million.
• Insider trading activity includes major shareholder Arturo R. Moreno acquiring 1,000,000 shares for $1.07 each, significantly increasing his position in the company.

Gamco Investors INC. ET AL raised its position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,023,950 shares of the business services provider's stock after purchasing an additional 387,950 shares during the period. Gamco Investors INC. ET AL owned 1.23% of Clear Channel Outdoor worth $6,687,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Clear Channel Outdoor by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider's stock worth $277,000 after purchasing an additional 11,015 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of 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 acquiring an additional 13,824 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Clear Channel Outdoor by 20.7% in the 1st quarter. XTX Topco Ltd now owns 100,929 shares of the business services provider's stock valued at $112,000 after acquiring an additional 17,292 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Clear Channel Outdoor by 24.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider's stock valued at $133,000 after acquiring an additional 18,958 shares in the last quarter. Finally, DigitalBridge Group Inc. raised its stake in shares of Clear Channel Outdoor by 2.4% in the 4th quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider's stock valued at $1,129,000 after acquiring an additional 19,100 shares in the last quarter. 85.52% of the stock is owned by hedge funds and other institutional investors.

Clear Channel Outdoor Stock Down 2.0%

NYSE CCO traded down $0.03 during trading on Monday, hitting $1.24. The company's stock had a trading volume of 1,763,832 shares, compared to its average volume of 3,427,407. The firm has a 50 day moving average price of $1.17 and a 200 day moving average price of $1.14. The firm has a market cap of $613.81 million, a P/E ratio of 30.88 and a beta of 2.61. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $1.77.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The business services provider reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The business 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.

Analysts Set New Price Targets

Separately, Barrington Research reissued a "market perform" rating on shares of Clear Channel Outdoor in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $2.04.

Insider Buying and Selling at Clear Channel Outdoor

In related news, major shareholder Arturo R. Moreno purchased 1,000,000 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $1.07 per share, with a total value of $1,070,000.00. Following the purchase, the insider directly owned 65,612,859 shares in the company, valued at $70,205,759.13. This represents a 1.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders purchased 1,517,322 shares of company stock worth $1,632,717. 7.20% of the stock is currently owned by company insiders.

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.