Squarepoint Ops LLC Purchases 537,054 Shares of Clear Channel Outdoor Holdings, Inc. $CCO

Squarepoint Ops LLC increased its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 4,516.1% during the second quarter, HoldingsChannel.com reports. The firm owned 548,946 shares of the business services provider’s stock after acquiring an additional 537,054 shares during the quarter. Squarepoint Ops LLC’s holdings in Clear Channel Outdoor were worth $642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. EntryPoint Capital LLC bought a new position in shares of Clear Channel Outdoor in the first quarter worth approximately $31,000. Diversify Wealth Management LLC purchased a new position in Clear Channel Outdoor in the 2nd quarter worth approximately $111,000. RBF Capital LLC purchased a new position in Clear Channel Outdoor in the 2nd quarter worth approximately $152,000. Quadrature Capital Ltd bought a new position in Clear Channel Outdoor in the 2nd quarter valued at approximately $161,000. Finally, Engineers Gate Manager LP boosted its stake in Clear Channel Outdoor by 140.5% during the 2nd quarter. Engineers Gate Manager LP now owns 177,545 shares of the business services provider’s stock valued at $208,000 after purchasing an additional 103,729 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors.

Clear Channel Outdoor Stock Performance

NYSE:CCO opened at $2.24 on Wednesday. The stock has a 50-day simple moving average of $1.91 and a two-hundred day simple moving average of $1.48. The firm has a market capitalization of $1.11 billion, a PE ratio of -223.50 and a beta of 2.27. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $0.81 and a 52-week high of $2.25.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Thursday, November 6th. The business services provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $405.64 million for the quarter, compared to analysts’ expectations of $402.03 million.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CCO. UBS Group set a $2.50 price target on Clear Channel Outdoor in a report on Thursday, September 25th. Citigroup upped their target price on shares of Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Wall Street Zen downgraded shares of Clear Channel Outdoor from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Zacks Research downgraded shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, Wells Fargo & Company upped their price objective on Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.32.

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.