Clear Channel Outdoor (NYSE:CCO) Director Raymond White Sells 23,435,796 Shares

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Director Raymond White sold 23,435,796 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $2.40, for a total transaction of $56,245,910.40. Following the completion of the sale, the director owned 187,371 shares of the company’s stock, valued at approximately $449,690.40. The trade was a 99.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Clear Channel Outdoor Price Performance

Shares of NYSE CCO traded down $0.01 during trading on Thursday, hitting $2.41. The stock had a trading volume of 5,594,014 shares, compared to its average volume of 6,835,059. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $1.00 and a 12 month high of $2.43. The company has a market capitalization of $1.22 billion, a PE ratio of -13.36 and a beta of 1.96. The firm has a fifty day moving average of $2.39 and a two-hundred day moving average of $2.26.

Clear Channel Outdoor (NYSE:CCO) last posted its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $373.86 million for the quarter, compared to analysts’ expectations of $348.71 million. On average, equities analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Friday, March 27th. Wells Fargo & Company boosted their price target on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Finally, TD Cowen reissued a “hold” rating and issued a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a report on Monday, April 6th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Clear Channel Outdoor currently has a consensus rating of “Reduce” and an average price target of $2.29.

Hedge Funds Weigh In On Clear Channel Outdoor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new position in Clear Channel Outdoor during the fourth quarter worth about $27,000. EntryPoint Capital LLC bought a new position in Clear Channel Outdoor during the fourth quarter worth about $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Clear Channel Outdoor during the fourth quarter worth about $31,000. CTC Alternative Strategies Ltd. bought a new position in Clear Channel Outdoor during the first quarter worth about $32,000. Finally, Sargent Investment Group LLC bought a new position in Clear Channel Outdoor during the fourth quarter worth about $33,000. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Company Profile

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.