Insider Buying: Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Acquires 500,000 Shares of Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Arturo R. Moreno bought 500,000 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were purchased at an average cost of $1.01 per share, with a total value of $505,000.00. Following the purchase, the insider now directly owns 60,229,814 shares of the company’s stock, valued at $60,832,112.14. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Stock Up 1.6 %

Shares of CCO stock opened at $0.96 on Friday. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $1.88. The firm has a 50 day moving average of $1.17 and a 200-day moving average of $1.38. The company has a market cap of $468.01 million, a price-to-earnings ratio of -3.29 and a beta of 2.72.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Clear Channel Outdoor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Clear Channel Outdoor by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider’s stock worth $277,000 after purchasing an additional 11,015 shares in the last quarter. MetLife Investment Management LLC raised its stake in Clear Channel Outdoor by 8.5% during the 4th quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider’s stock worth $242,000 after buying an additional 13,824 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Clear Channel Outdoor by 24.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider’s stock worth $133,000 after acquiring an additional 18,958 shares in the last quarter. DigitalBridge Group Inc. grew its stake in Clear Channel Outdoor by 2.4% in the fourth quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider’s stock valued at $1,129,000 after acquiring an additional 19,100 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Clear Channel Outdoor by 7.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 376,987 shares of the business services provider’s stock valued at $518,000 after acquiring an additional 25,197 shares in the last quarter. 85.52% of the stock is owned by institutional investors.

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.