Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Buys $31,072.63 in Stock

Key Points

• Arturo R. Moreno, a major shareholder of Clear Channel Outdoor, purchased 28,507 shares at an average cost of $1.09 per share, increasing his ownership by 0.04% to a total of 64,162,859 shares.
• Clear Channel Outdoor reported a net loss of ($0.11) earnings per share for the last quarter, slightly beating analyst expectations, although revenue fell short of estimates.
• Analysts have mixed views on the stock, with Morgan Stanley lowering its price target from $2.00 to $1.50 and maintaining an "equal weight" rating.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) major shareholder Arturo R. Moreno acquired 28,507 shares of Clear Channel Outdoor stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average cost of $1.09 per share, with a total value of $31,072.63. Following the completion of the purchase, the insider owned 64,162,859 shares in the company, valued at $69,937,516.31. The trade was a 0.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Clear Channel Outdoor Price Performance

CCO traded up $0.04 on Monday, reaching $1.06. The company's stock had a trading volume of 1,316,453 shares, compared to its average volume of 2,256,524. The business's 50 day moving average is $1.15 and its 200 day moving average is $1.17. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $0.81 and a 1 year high of $1.77. The stock has a market cap of $524.03 million, a price-to-earnings ratio of -17.58 and a beta of 2.65.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported ($0.11) earnings per share (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 the consensus estimate of $337.70 million.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley lowered their price target on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Barrington Research reissued a "market perform" rating on shares of Clear Channel Outdoor in a report on Wednesday, July 23rd.

Institutional Trading of Clear Channel Outdoor

Hedge funds have recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new position in Clear Channel Outdoor during the first quarter valued at about $31,000. Graham Capital Management L.P. bought a new stake in shares of Clear Channel Outdoor during the 4th quarter valued at $36,000. Teacher Retirement System of Texas acquired a new position in shares of Clear Channel Outdoor in the 1st quarter valued at $39,000. KLP Kapitalforvaltning AS bought a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at $53,000. Finally, Brevan Howard Capital Management LP acquired a new position in Clear Channel Outdoor in the 4th quarter worth $92,000. 85.52% of the stock is owned by hedge funds and other institutional investors.

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.