OMERS ADMINISTRATION Corp Makes New $2.33 Million Investment in Clear Channel Outdoor Holdings, Inc. $CCO

Key Points

• OMERS Administration Corp acquired 962,800 shares of Clear Channel Outdoor, valued at approximately $2.33 million and representing a 0.19% stake. Institutional investors and hedge funds collectively own 85.52% of the company.
• Analysts maintain a cautious outlook: CCO has an average rating of “Reduce” and an average price target of $2.29, with four Holds and two Sells.
• Clear Channel Outdoor reported quarterly revenue of $438.04 million, above the $423.62 million consensus estimate, while EPS matched expectations at a loss of $0.01. Shares recently opened at $2.38, near their 12-month high of $2.44.

OMERS ADMINISTRATION Corp acquired a new stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 962,800 shares of the business services provider's stock, valued at approximately $2,330,000. OMERS ADMINISTRATION Corp owned 0.19% of Clear Channel Outdoor at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CCO. Quantbot Technologies LP acquired a new stake in Clear Channel Outdoor in the 2nd quarter valued at $33,000. Advisors Capital Management LLC bought a new position in shares of Clear Channel Outdoor during the second quarter valued at $56,000. Fore Capital LLC bought a new position in shares of Clear Channel Outdoor during the second quarter valued at $73,000. BlackRock Inc. acquired a new stake in shares of Clear Channel Outdoor in the 2nd quarter valued at $73,669,000. Finally, Deutsche Bank AG bought a new stake in shares of Clear Channel Outdoor in the 2nd quarter worth about $950,000. 85.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Clear Channel Outdoor from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $2.29.

Insiders Place Their Bets

In other Clear Channel Outdoor news, Director Raymond T. White sold 23,435,796 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $2.40, for a total transaction of $56,245,910.40. Following the transaction, the director owned 187,371 shares of the company's stock, valued at approximately $449,690.40. This represents a 99.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 26,239,967 shares of company stock valued at $62,975,921. Insiders own 7.20% of the company's stock.

Clear Channel Outdoor Stock Performance

Shares of NYSE:CCO opened at $2.38 on Wednesday. The business has a fifty day moving average of $2.40 and a 200-day moving average of $2.39. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $1.22 and a twelve month high of $2.44. The firm has a market cap of $1.21 billion, a PE ratio of -11.31 and a beta of 1.95.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The business services provider reported ($0.01) EPS for the quarter, hitting analysts' consensus estimates of ($0.01). The company had revenue of $438.04 million for the quarter, compared to the consensus estimate of $423.62 million. On average, analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.05 EPS for the current fiscal year.

Clear Channel Outdoor 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.

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