Jacksonville Wealth Management LLC Purchases Shares of 45,000 Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Jacksonville Wealth Management LLC acquired a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 45,000 shares of the business services provider’s stock, valued at approximately $62,000.

A number of other large investors have also made changes to their positions in the stock. Crewe Advisors LLC acquired a new stake in Clear Channel Outdoor during the third quarter worth about $32,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Clear Channel Outdoor during the 3rd quarter worth approximately $34,000. Ground Swell Capital LLC bought a new stake in shares of Clear Channel Outdoor during the third quarter valued at approximately $34,000. Stratos Wealth Advisors LLC bought a new stake in shares of Clear Channel Outdoor during the third quarter valued at approximately $40,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Clear Channel Outdoor in the second quarter valued at $55,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CCO. TD Cowen lowered their price target on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a report on Friday, November 1st. Barrington Research reissued an “outperform” rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.16.

Insider Transactions at Clear Channel Outdoor

In other news, major shareholder Arturo R. Moreno acquired 250,000 shares of Clear Channel Outdoor stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $1.45 per share, with a total value of $362,500.00. Following the acquisition, the insider now owns 52,182,534 shares in the company, valued at $75,664,674.30. This represents a 0.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.53% of the company’s stock.

Clear Channel Outdoor Price Performance

Shares of CCO opened at $1.44 on Friday. The business’s 50 day simple moving average is $1.48 and its 200-day simple moving average is $1.53. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.29 and a one year high of $2.06. The company has a market capitalization of $701.83 million, a P/E ratio of -4.95 and a beta of 3.04.

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.