Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Arturo R. Moreno Buys 2,500,000 Shares

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Arturo R. Moreno acquired 2,500,000 shares of Clear Channel Outdoor stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $0.94 per share, with a total value of $2,350,000.00. Following the purchase, the insider now owns 57,432,534 shares of the company’s stock, valued at $53,986,581.96. The trade was a 4.55 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Clear Channel Outdoor Stock Down 4.2 %

Shares of CCO stock opened at $0.86 on Wednesday. The stock has a market cap of $422.43 million, a P/E ratio of -2.97 and a beta of 2.72. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $0.81 and a fifty-two week high of $1.88. The business has a fifty day simple moving average of $1.23 and a 200-day simple moving average of $1.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Graham Capital Management L.P. purchased a new stake in Clear Channel Outdoor in the 4th quarter worth approximately $36,000. Cibc World Markets Corp acquired a new stake in shares of Clear Channel Outdoor during the fourth quarter worth $45,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Clear Channel Outdoor in the fourth quarter valued at $53,000. Jacksonville Wealth Management LLC acquired a new position in Clear Channel Outdoor in the fourth quarter valued at $62,000. Finally, Brevan Howard Capital Management LP purchased a new position in Clear Channel Outdoor during the fourth quarter worth about $92,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Monday, February 24th.

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.