JPMorgan Chase & Co. Purchases 610,110 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

JPMorgan Chase & Co. raised its position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,371,308 shares of the business services provider's stock after purchasing an additional 610,110 shares during the period. JPMorgan Chase & Co. owned 1.51% of Clear Channel Outdoor worth $10,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Cibc World Markets Corp bought a new position in Clear Channel Outdoor in the 4th quarter worth approximately $45,000. Inspire Investing LLC boosted its holdings in shares of Clear Channel Outdoor by 13.6% in the fourth quarter. Inspire Investing LLC now owns 291,121 shares of the business services provider's stock worth $399,000 after acquiring an additional 34,759 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Clear Channel Outdoor in the fourth quarter valued at $53,000. Jacksonville Wealth Management LLC purchased a new position in shares of Clear Channel Outdoor in the fourth quarter valued at $62,000. Finally, SG Americas Securities LLC lifted its holdings in Clear Channel Outdoor by 31.2% during the 4th quarter. SG Americas Securities LLC now owns 294,947 shares of the business services provider's stock worth $404,000 after purchasing an additional 70,196 shares in the last quarter. 85.52% of the stock is owned by hedge funds and other institutional investors.

Clear Channel Outdoor Trading Up 1.6 %

Shares of CCO traded up $0.02 during mid-day trading on Friday, reaching $0.96. 1,801,100 shares of the stock traded hands, compared to its average volume of 1,674,171. The company has a market cap of $468.01 million, a price-to-earnings ratio of -3.29 and a beta of 2.72. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $0.81 and a 1 year high of $1.88. The firm has a fifty day moving average price of $1.16 and a 200 day moving average price of $1.38.

Insider Activity at Clear Channel Outdoor

In related news, major shareholder Arturo R. Moreno acquired 2,500,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average cost of $0.94 per share, for a total transaction of $2,350,000.00. Following the completion of the transaction, the insider now owns 57,432,534 shares in the company, valued at approximately $53,986,581.96. This trade represents a 4.55 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders acquired 7,093,366 shares of company stock valued at $6,805,848. Company insiders own 1.53% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an "outperform" rating and set a $2.50 target price on shares of Clear Channel Outdoor in a report on Monday, February 24th.

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.