Jane Street Group LLC Decreases Stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Jane Street Group LLC decreased its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 25.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 831,842 shares of the business services provider's stock after selling 285,051 shares during the period. Jane Street Group LLC owned approximately 0.17% of Clear Channel Outdoor worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCO. Shenkman Capital Management Inc. increased its holdings in Clear Channel Outdoor by 34.0% in the fourth quarter. Shenkman Capital Management Inc. now owns 2,954,589 shares of the business services provider's stock valued at $4,048,000 after buying an additional 750,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Clear Channel Outdoor by 9.0% during the fourth quarter. JPMorgan Chase & Co. now owns 7,371,308 shares of the business services provider's stock worth $10,099,000 after buying an additional 610,110 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Clear Channel Outdoor by 7.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 5,636,000 shares of the business services provider's stock worth $7,721,000 after acquiring an additional 405,500 shares during the period. Fore Capital LLC increased its position in Clear Channel Outdoor by 3,586.5% during the fourth quarter. Fore Capital LLC now owns 368,650 shares of the business services provider's stock worth $505,000 after purchasing an additional 358,650 shares during the last quarter. Finally, Permanent Capital Management LP purchased a new position in Clear Channel Outdoor during the fourth quarter worth about $477,000. Hedge funds and other institutional investors own 85.52% of the company's stock.

Insider Activity

In other news, CEO Scott Wells purchased 50,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $1.08 per share, with a total value of $54,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,392,205 shares in the company, valued at approximately $3,663,581.40. This represents a 1.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Arturo R. Moreno bought 29,289 shares of the business's stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $0.94 per share, for a total transaction of $27,531.66. Following the completion of the acquisition, the insider now directly owns 61,445,196 shares in the company, valued at approximately $57,758,484.24. This trade represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 7,947,442 shares of company stock worth $7,709,003. 7.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CCO has been the topic of several recent analyst reports. Barrington Research lowered Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 23rd. Morgan Stanley decreased their target price 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.

Clear Channel Outdoor Stock Down 4.7%

Shares of CCO opened at $1.12 on Thursday. The company 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 fifty-two week low of $0.81 and a fifty-two week high of $1.88. The firm's 50 day moving average price is $1.06 and its 200 day moving average price is $1.30.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its 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 analyst estimates of $337.70 million.

Clear Channel Outdoor Company Profile

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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