Gamco Investors INC. ET AL Has $21.53 Million Stock Position in Clear Channel Outdoor Holdings, Inc. $CCO

Gamco Investors INC. ET AL lifted its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 11.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 9,085,775 shares of the business services provider’s stock after buying an additional 959,400 shares during the period. Gamco Investors INC. ET AL’s holdings in Clear Channel Outdoor were worth $21,533,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in Clear Channel Outdoor in the first quarter valued at about $52,000. Arrowstreet Capital Limited Partnership raised its position in shares of Clear Channel Outdoor by 807.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,018,245 shares of the business services provider’s stock worth $2,413,000 after purchasing an additional 905,992 shares during the period. Capula Management Ltd bought a new position in shares of Clear Channel Outdoor during the 1st quarter valued at about $2,200,000. Transmarket Holdings LP bought a new position in shares of Clear Channel Outdoor during the 1st quarter valued at about $36,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Clear Channel Outdoor by 109.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 899,187 shares of the business services provider’s stock valued at $2,131,000 after purchasing an additional 469,876 shares during the period. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Price Performance

Shares of Clear Channel Outdoor stock opened at $2.42 on Friday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -13.42 and a beta of 1.95. The stock’s 50-day moving average is $2.40 and its 200-day moving average is $2.34. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.00 and a one year high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $373.86 million during the quarter, compared to analyst estimates of $348.71 million. On average, equities analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.06 EPS for the current year.

Insider Buying and Selling at Clear Channel Outdoor

In other news, Director Raymond T. White sold 23,435,796 shares of Clear Channel Outdoor stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $2.40, for a total value of $56,245,910.40. Following the sale, the director directly owned 187,371 shares in the company, valued at $449,690.40. This trade represents a 99.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 26,239,967 shares of company stock worth $62,975,921. 7.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CCO shares. TD Cowen reissued a “hold” rating and set a $2.43 target price (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Wednesday, June 24th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Clear Channel Outdoor has a consensus rating of “Reduce” and a consensus price target of $2.29.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.