Squarepoint Ops LLC Sells 255,033 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Squarepoint Ops LLC lowered its position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 72.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,955 shares of the business services provider's stock after selling 255,033 shares during the quarter. Squarepoint Ops LLC's holdings in Clear Channel Outdoor were worth $133,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Graham Capital Management L.P. bought a new position in Clear Channel Outdoor during the 4th quarter worth approximately $36,000. Cibc World Markets Corp purchased a new stake in Clear Channel Outdoor during the fourth quarter worth about $45,000. KLP Kapitalforvaltning AS bought a new position in Clear Channel Outdoor during the fourth quarter worth about $53,000. Brevan Howard Capital Management LP bought a new position in shares of Clear Channel Outdoor in the fourth quarter valued at approximately $92,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Clear Channel Outdoor by 24.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider's stock valued at $133,000 after acquiring an additional 18,958 shares during the period. Institutional investors and hedge funds own 85.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CCO shares. Morgan Stanley decreased their target price on shares of 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. Barrington Research cut shares of Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 23rd.

Clear Channel Outdoor Trading Down 3.9%

Clear Channel Outdoor stock traded down $0.05 during mid-day trading on Friday, hitting $1.12. The company had a trading volume of 3,572,722 shares, compared to its average volume of 1,708,291. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $0.81 and a 12-month high of $1.88. The company has a market capitalization of $553.84 million, a price-to-earnings ratio of -3.84 and a beta of 2.59. The company's fifty day moving average is $1.07 and its 200-day moving average is $1.25.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last announced its earnings results on Thursday, May 1st. The business services provider reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. The firm had revenue of $334.18 million for the quarter, compared to analysts' expectations of $337.70 million.

Insider Transactions at Clear Channel Outdoor

In related news, major shareholder Arturo R. Moreno acquired 980,644 shares of the stock in a transaction on Wednesday, April 16th. The shares were purchased at an average price of $0.93 per share, for a total transaction of $911,998.92. Following the purchase, the insider now directly owns 61,210,458 shares in the company, valued at approximately $56,925,725.94. The trade was a 1.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Scott Wells purchased 50,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average price of $1.08 per share, for a total transaction of $54,000.00. Following the purchase, the chief executive officer now owns 3,392,205 shares in the company, valued at approximately $3,663,581.40. The trade was a 1.50% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 8,009,591 shares of company stock worth $7,774,881. 7.70% of the stock is currently owned by corporate insiders.

Clear Channel Outdoor 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.