Insider Buying: Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Purchases $911,998.92 in Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Arturo R. Moreno acquired 980,644 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was purchased at an average cost of $0.93 per share, for a total transaction of $911,998.92. Following the completion of the acquisition, the insider now owns 61,210,458 shares in the company, valued at approximately $56,925,725.94. This represents a 1.63 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Trading Up 1.6 %

Shares of CCO stock opened at $0.96 on Monday. The stock has a 50 day simple moving average of $1.16 and a 200 day simple moving average of $1.38. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $0.81 and a 1 year high of $1.88. The stock has a market cap of $468.01 million, a P/E ratio of -3.29 and a beta of 2.72.

Institutional Trading of Clear Channel Outdoor

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

Analysts Set New Price Targets

Separately, Barrington Research restated an “outperform” rating and issued a $2.50 price target 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.