Renaissance Technologies LLC Cuts Stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Renaissance Technologies LLC lessened its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 57.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 307,905 shares of the business services provider's stock after selling 422,277 shares during the period. Renaissance Technologies LLC owned approximately 0.06% of Clear Channel Outdoor worth $422,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Shenkman Capital Management Inc. grew its stake in Clear Channel Outdoor by 34.0% during the 4th quarter. Shenkman Capital Management Inc. now owns 2,954,589 shares of the business services provider's stock worth $4,048,000 after purchasing an additional 750,000 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Clear Channel Outdoor by 9.0% during the fourth quarter. JPMorgan Chase & Co. now owns 7,371,308 shares of the business services provider's stock worth $10,099,000 after buying an additional 610,110 shares in the last quarter. Barclays PLC grew its position in shares of Clear Channel Outdoor by 271.2% during the third quarter. Barclays PLC now owns 520,663 shares of the business services provider's stock worth $833,000 after buying an additional 380,408 shares in the last quarter. Fore Capital LLC increased its stake in shares of Clear Channel Outdoor by 3,586.5% during the fourth quarter. Fore Capital LLC now owns 368,650 shares of the business services provider's stock worth $505,000 after buying an additional 358,650 shares during the period. Finally, Permanent Capital Management LP acquired a new stake in Clear Channel Outdoor in the fourth quarter valued at approximately $477,000. Institutional investors and hedge funds own 85.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barrington Research downgraded shares of Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 23rd. Morgan Stanley dropped their target price on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating on the stock in a report on Thursday.

Clear Channel Outdoor Trading Up 3.8 %

CCO stock opened at $1.08 on Monday. The stock has a market cap of $529.26 million, a P/E ratio of -3.72 and a beta of 2.72. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $0.81 and a twelve month high of $1.88. The company's 50 day moving average is $1.09 and its two-hundred day moving average is $1.34.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The business services provider reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $334.18 million for the quarter, compared to analyst estimates of $337.70 million.

Insiders Place Their Bets

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 83,378 shares of the stock in a transaction dated Monday, April 28th. The shares were acquired at an average cost of $1.02 per share, for a total transaction of $85,045.56. Following the completion of the transaction, the insider now owns 62,227,107 shares in the company, valued at approximately $63,471,649.14. The trade was a 0.13 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 7,350,634 shares of company stock valued at $7,065,918 over the last quarter. Company insiders own 7.70% of the company's stock.

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.

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