Vanguard Group Inc. Lowers Position in Clear Channel Outdoor Holdings, Inc. $CCO

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. decreased its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent disclosure 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 period. Vanguard Group Inc. owned 7.15% of Clear Channel Outdoor worth $38,868,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Diameter Capital Partners LP grew its stake in Clear Channel Outdoor by 2,210.5% during the fourth 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 grew its stake 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 purchasing an additional 1,723,417 shares during the period. Northern Trust Corp grew its stake in Clear Channel Outdoor by 3.8% during the fourth quarter. Northern Trust Corp now owns 3,205,102 shares of the business services provider's stock worth $4,391,000 after purchasing an additional 117,516 shares during the period. Bardin Hill Management Partners LP boosted its holdings in Clear Channel Outdoor by 1.5% in the fourth quarter. Bardin Hill Management Partners LP now owns 2,692,925 shares of the business services provider's stock worth $3,689,000 after acquiring an additional 40,493 shares in the last quarter. Finally, Whitebox Advisors LLC boosted its holdings in Clear Channel Outdoor by 2.6% in the fourth quarter. Whitebox Advisors LLC now owns 1,854,586 shares of the business services provider's stock worth $2,541,000 after acquiring an additional 47,100 shares in the last quarter. Institutional investors and hedge funds own 85.52% of the company's stock.

Analyst Ratings Changes

Separately, Barrington Research reiterated 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 assigned a Hold rating to the stock. According to MarketBeat, Clear Channel Outdoor currently has an average rating of "Hold" and a consensus target price of $2.04.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 1,000,000 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $1.07 per share, for a total transaction of $1,070,000.00. Following the transaction, the insider owned 65,612,859 shares in the company, valued at $70,205,759.13. This represents a 1.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders purchased 1,517,322 shares of company stock valued at $1,632,717. 7.20% of the stock is currently owned by company insiders.

Clear Channel Outdoor Stock Performance

CCO traded down $0.03 on Monday, hitting $1.24. 1,763,832 shares of the company were exchanged, compared to its average volume of 3,427,407. The firm has a fifty day simple moving average of $1.18 and a two-hundred day simple moving average of $1.14. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $0.81 and a 12 month high of $1.77. The stock has a market capitalization of $613.81 million, a PE ratio of 30.88 and a beta of 2.61.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $402.81 million for the quarter, compared to the consensus estimate of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

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.