Clear Channel Outdoor Holdings, Inc. $CCO Stock Position Lowered by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its stake in Clear Channel Outdoor Holdings by 0.6%, now owning approximately 35 million shares valued at around $38.87 million.
• Insider activity is notable with major shareholder Arturo R. Moreno acquiring 1 million shares, increasing his ownership to 65.61 million shares worth over $70 million.
• Clear Channel Outdoor's quarterly earnings were in line with expectations, reporting an EPS of ($0.04) and revenues of $402.81 million, surpassing forecasts.

Vanguard Group Inc. cut its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,015,771 shares of the business services provider's stock after selling 218,949 shares during the quarter. Vanguard Group Inc. owned about 7.15% of Clear Channel Outdoor worth $38,868,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Diameter Capital Partners LP raised its holdings in shares of Clear Channel Outdoor by 2,210.5% in 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 during the period. Readystate Asset Management LP raised its holdings in shares of Clear Channel Outdoor by 37.9% in the 1st quarter. Readystate Asset Management LP now owns 6,267,547 shares of the business services provider's stock worth $6,957,000 after purchasing an additional 1,723,417 shares during the period. State of Wyoming raised its holdings in shares of Clear Channel Outdoor by 39.3% in the 4th quarter. State of Wyoming now owns 1,594,464 shares of the business services provider's stock worth $2,184,000 after purchasing an additional 450,000 shares during the period. Net Worth Advisory Group purchased a new position in shares of Clear Channel Outdoor in the 1st quarter worth about $471,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Clear Channel Outdoor in the 4th quarter worth about $548,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Clear Channel Outdoor Stock Performance

Shares of NYSE:CCO traded down $0.03 during mid-day trading on Friday, hitting $1.24. 1,763,832 shares of the company traded hands, compared to its average volume of 3,691,311. The firm has a market cap of $613.81 million, a P/E ratio of 30.88 and a beta of 2.65. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $0.81 and a 52-week high of $1.77. The firm's 50 day simple moving average is $1.17 and its 200 day simple moving average is $1.14.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.04). The business 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.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 1,000,000 shares of the stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $1.07 per share, for a total transaction of $1,070,000.00. Following the purchase, the insider directly owned 65,612,859 shares in the company, valued at $70,205,759.13. This trade represents a 1.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 1,517,322 shares of company stock worth $1,632,717. 7.70% of the stock is owned by company insiders.

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.