Assenagon Asset Management S.A. Has $3.36 Million Stock Holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Assenagon Asset Management S.A. cut its position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 42.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,844,202 shares of the business services provider's stock after selling 1,350,606 shares during the quarter. Assenagon Asset Management S.A. owned about 0.38% of Clear Channel Outdoor worth $3,356,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CCO. Mackenzie Financial Corp lifted its holdings in shares of Clear Channel Outdoor by 15.2% during the 1st quarter. Mackenzie Financial Corp now owns 41,024 shares of the business services provider's stock valued at $142,000 after acquiring an additional 5,400 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Clear Channel Outdoor by 7.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 83,574 shares of the business services provider's stock worth $88,000 after purchasing an additional 5,814 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Clear Channel Outdoor by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 298,308 shares of the business services provider's stock worth $313,000 after buying an additional 6,076 shares during the period. Invesco Ltd. grew its stake in shares of Clear Channel Outdoor by 0.6% in the third quarter. Invesco Ltd. now owns 1,310,820 shares of the business services provider's stock valued at $2,071,000 after buying an additional 7,872 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Clear Channel Outdoor by 2.1% during the 3rd quarter. Alliancebernstein L.P. now owns 383,300 shares of the business services provider's stock valued at $525,000 after buying an additional 8,000 shares during the period. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CCO shares. Barrington Research restated an "outperform" rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a report on Tuesday, February 27th. Wells Fargo & Company raised shares of Clear Channel Outdoor from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $1.50 to $2.75 in a report on Wednesday, December 20th. StockNews.com raised shares of Clear Channel Outdoor from a "sell" rating to a "hold" rating in a research note on Friday, February 16th. Finally, Morgan Stanley upped their price objective on shares of Clear Channel Outdoor from $1.50 to $2.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $2.16.

Clear Channel Outdoor Stock Up 3.2 %

Shares of Clear Channel Outdoor stock traded up $0.05 on Wednesday, hitting $1.62. 1,810,868 shares of the company's stock traded hands, compared to its average volume of 2,361,160. The firm's 50-day moving average is $1.71 and its 200 day moving average is $1.55. The stock has a market cap of $783.63 million, a P/E ratio of -2.49 and a beta of 2.88. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $0.99 and a 52-week high of $2.06.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The business services provider reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. The company had revenue of $632.11 million for the quarter, compared to the consensus estimate of $611.62 million. During the same quarter last year, the company earned $0.24 earnings per share. Equities research analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.24 EPS for the current year.

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.