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

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Arturo R. Moreno bought 2,500,000 shares of the stock in a transaction dated Friday, April 4th. The shares were bought at an average cost of $0.97 per share, with a total value of $2,425,000.00. Following the completion of the acquisition, the insider now directly owns 54,932,534 shares of the company’s stock, valued at approximately $53,284,557.98. The trade was a 4.77 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Clear Channel Outdoor Price Performance

Shares of NYSE:CCO opened at $1.02 on Friday. The stock has a market cap of $498.39 million, a price-to-earnings ratio of -3.51 and a beta of 2.72. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $0.81 and a 12 month high of $1.88. The stock’s 50 day moving average price is $1.21 and its 200 day moving average price is $1.40.

Analyst Upgrades and Downgrades

Separately, Barrington Research reissued an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a report on Monday, February 24th.

Institutional Trading of Clear Channel Outdoor

Hedge funds and other institutional investors have recently modified their holdings of the company. Graham Capital Management L.P. bought a new position in Clear Channel Outdoor during the fourth quarter valued at about $36,000. Cibc World Markets Corp acquired a new stake in Clear Channel Outdoor in the 4th quarter valued at about $45,000. KLP Kapitalforvaltning AS bought a new position in shares of Clear Channel Outdoor during the 4th quarter valued at about $53,000. Jacksonville Wealth Management LLC acquired a new position in shares of Clear Channel Outdoor in the 4th quarter worth approximately $62,000. Finally, Brevan Howard Capital Management LP acquired a new stake in Clear Channel Outdoor during the fourth quarter valued at approximately $92,000. Institutional investors own 85.52% of the company’s stock.

About Clear Channel Outdoor

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.