Nuveen LLC Buys Shares of 1,452,171 Clear Channel Outdoor Holdings, Inc. $CCO

Key Points

• Nuveen LLC has made a new investment in Clear Channel Outdoor Holdings, Inc., purchasing 1,452,171 shares valued at approximately $1.61 million, which constitutes about 0.30% of the company's stock.
• Major shareholder Arturo R. Moreno acquired 1,000,000 shares, increasing his position by 1.55%, while insiders purchased a total of 1,517,322 shares valued at around $1.63 million in the last 90 days.
• Despite these investments, shares of Clear Channel Outdoor are down 2.0%, currently trading around $1.24, with a market capitalization of approximately $613.81 million.

Nuveen LLC bought a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,452,171 shares of the business services provider's stock, valued at approximately $1,612,000. Nuveen LLC owned approximately 0.30% of Clear Channel Outdoor as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the company. Diameter Capital Partners LP increased its stake in shares of Clear Channel Outdoor by 2,210.5% during the 4th quarter. Diameter Capital Partners LP now owns 10,104,095 shares of the business services provider's stock worth $13,843,000 after purchasing an additional 9,666,788 shares in the last quarter. Readystate Asset Management LP increased its position in Clear Channel Outdoor by 37.9% during the first quarter. Readystate Asset Management LP now owns 6,267,547 shares of the business services provider's stock worth $6,957,000 after buying an additional 1,723,417 shares in the last quarter. State of Wyoming raised its holdings in shares of Clear Channel Outdoor by 39.3% in the fourth quarter. State of Wyoming now owns 1,594,464 shares of the business services provider's stock worth $2,184,000 after acquiring an additional 450,000 shares during the last quarter. Net Worth Advisory Group purchased a new stake in shares of Clear Channel Outdoor in the first quarter valued at $471,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Clear Channel Outdoor in the fourth quarter valued at $548,000. Hedge funds and other institutional investors own 85.52% of the company's stock.

Clear Channel Outdoor Stock Performance

Shares of CCO traded up $0.01 during trading hours on Wednesday, hitting $1.27. The stock had a trading volume of 629,924 shares, compared to its average volume of 2,392,305. The company's fifty day simple moving average is $1.18 and its 200 day simple moving average is $1.14. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $0.81 and a 12-month high of $1.77. The firm has a market cap of $628.72 million, a P/E ratio of 31.63 and a beta of 2.61.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last announced 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 firm had revenue of $402.81 million for the quarter, compared to analyst estimates of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, major shareholder Arturo R. Moreno bought 1,000,000 shares of Clear Channel Outdoor stock in a transaction dated Thursday, July 31st. The shares were acquired at an average cost of $1.07 per share, with a total value of $1,070,000.00. Following the completion of the transaction, the insider owned 65,612,859 shares in the company, valued at approximately $70,205,759.13. This trade represents a 1.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 1,517,322 shares of company stock worth $1,632,717 in the last 90 days. Company insiders own 7.20% of the company's stock.

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.