Cambridge Investment Research Advisors Inc. decreased its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 30.6% during the 2nd quarter, Holdings Channel reports. The firm owned 10,000 shares of the business services provider’s stock after selling 4,400 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Clear Channel Outdoor were worth $26,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Centiva Capital LP increased its holdings in shares of Clear Channel Outdoor by 32.1% during the 1st quarter. Centiva Capital LP now owns 22,515 shares of the business services provider’s stock worth $41,000 after acquiring an additional 5,468 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Clear Channel Outdoor by 17.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 46,104 shares of the business services provider’s stock worth $122,000 after acquiring an additional 6,864 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Clear Channel Outdoor by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 421,487 shares of the business services provider’s stock worth $759,000 after acquiring an additional 11,752 shares during the last quarter. Capula Management Ltd acquired a new position in shares of Clear Channel Outdoor during the 1st quarter worth approximately $33,000. Finally, Ameritas Investment Partners Inc. bought a new stake in Clear Channel Outdoor in the 2nd quarter valued at $75,000. 94.14% of the stock is currently owned by institutional investors and hedge funds.
In related news, CAO Jason Dilger sold 23,006 shares of the company’s stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $2.49, for a total transaction of $57,284.94. Following the completion of the sale, the chief accounting officer now directly owns 201,029 shares in the company, valued at approximately $500,562.21. The sale was disclosed in a filing with the SEC, which is available through this link. 1.44% of the stock is owned by corporate insiders.
Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings data on Thursday, July 29th. The business services provider reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The company had revenue of $531.08 million during the quarter, compared to analyst estimates of $496.49 million. On average, analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.75 EPS for the current year.
Several analysts recently issued reports on the company. Morgan Stanley boosted their price target on Clear Channel Outdoor from $3.00 to $3.15 and gave the company an “equal weight” rating in a research note on Friday, July 30th. Zacks Investment Research downgraded Clear Channel Outdoor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 31st. Royal Bank of Canada upgraded Clear Channel Outdoor to a “sector perform” rating in a research report on Friday, September 3rd. Finally, TD Securities upgraded Clear Channel Outdoor to a “buy” rating in a research report on Tuesday, September 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.68.
Clear Channel Outdoor Profile
Clear Channel Outdoor Holdings, Inc provides outdoor advertising solutions. It operates through Americas Outdoor Advertising and International Outdoor Advertising segments. The Americas Outdoor Advertising segment consists of operations primarily in the U.S. The International Outdoor Advertising segment consists of operations primarily in Europe, Asia and Latin America.
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