Groupe la Francaise Makes New Investment in Clear Channel Outdoor Holdings, Inc. $CCO

Key Points

• Groupe la Francaise acquired 1.27 million shares of Clear Channel Outdoor in the first quarter, valued at approximately $3.0 million and representing about 0.25% of the company. Institutional investors collectively own 85.52% of CCO’s stock.
• Analyst sentiment remains cautious: four analysts rate CCO “Hold” and two rate it “Sell,” producing an average “Reduce” rating and a consensus price target of $2.29. The stock recently traded at $2.42, near its 52-week high.
• Clear Channel Outdoor missed first-quarter EPS expectations, reporting a $0.10 loss per share versus the expected $0.09 loss, despite revenue exceeding estimates. Insider selling has been substantial, with insiders selling 26.2 million shares worth nearly $63 million over the past 90 days.

Groupe la Francaise bought a new position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,271,940 shares of the business services provider's stock, valued at approximately $3,014,000. Groupe la Francaise owned approximately 0.25% of Clear Channel Outdoor as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in CCO. Captrust Financial Advisors purchased a new stake in Clear Channel Outdoor in the fourth quarter worth $27,000. EntryPoint Capital LLC bought a new position in Clear Channel Outdoor in the fourth quarter worth $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Clear Channel Outdoor during the fourth quarter valued at $31,000. Sargent Investment Group LLC bought a new stake in shares of Clear Channel Outdoor during the 4th quarter valued at $33,000. Finally, Transmarket Holdings LP bought a new stake in shares of Clear Channel Outdoor during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 85.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen reaffirmed a "hold" rating and issued a $2.43 target price (down from $2.50) on shares of Clear Channel Outdoor in a research report on Monday, April 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Clear Channel Outdoor in a research note on Wednesday, June 24th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $2.29.

Clear Channel Outdoor Stock Performance

Shares of NYSE:CCO opened at $2.42 on Friday. The business has a 50-day simple moving average of $2.41 and a two-hundred day simple moving average of $2.35. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.44. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -13.47 and a beta of 1.95.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The business had revenue of $373.86 million during the quarter, compared to analyst estimates of $348.71 million. As a group, research analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.06 earnings per share for the current year.

Insider Activity at Clear Channel Outdoor

In other news, Director Raymond T. White sold 2,500,900 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $2.40, for a total value of $6,002,160.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 26,239,967 shares of company stock worth $62,975,921. 7.70% of the stock is owned by company insiders.

Clear Channel Outdoor Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.