Net Worth Advisory Group Takes $471,000 Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Net Worth Advisory Group bought a new stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 424,063 shares of the business services provider's stock, valued at approximately $471,000. Net Worth Advisory Group owned about 0.09% of Clear Channel Outdoor at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Clear Channel Outdoor by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider's stock worth $277,000 after buying an additional 11,015 shares during the period. MetLife Investment Management LLC raised its position in shares of Clear Channel Outdoor by 8.5% during the 4th quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider's stock worth $242,000 after purchasing an additional 13,824 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Clear Channel Outdoor by 24.2% during the 4th quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider's stock worth $133,000 after purchasing an additional 18,958 shares during the period. DigitalBridge Group Inc. grew its holdings in 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 worth $1,129,000 after buying an additional 19,100 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Clear Channel Outdoor by 7.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 376,987 shares of the business services provider's stock worth $518,000 after buying an additional 25,197 shares in the last quarter. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CCO. 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 reduced their price objective on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating for the company in a research note on Thursday, May 1st.

Insider Buying and Selling at Clear Channel Outdoor

In related news, CEO Scott Wells acquired 50,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $1.08 per share, for a total transaction of $54,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,392,205 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Arturo R. Moreno bought 980,644 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was acquired at an average price of $0.93 per share, for a total transaction of $911,998.92. Following the acquisition, the insider now directly owns 61,210,458 shares in the company, valued at $56,925,725.94. The trade was a 1.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 8,009,591 shares of company stock worth $7,774,881 over the last three months. Corporate insiders own 7.70% of the company's stock.

Clear Channel Outdoor Stock Up 4.1%

CCO stock traded up $0.05 during trading on Monday, hitting $1.15. The company had a trading volume of 1,591,947 shares, compared to its average volume of 1,708,544. The firm has a 50-day moving average price of $1.07 and a 200-day moving average price of $1.24. The stock has a market cap of $568.74 million, a price-to-earnings ratio of -3.95 and a beta of 2.59. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $0.81 and a 12 month high of $1.88.

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