UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 215,021 Shares of Clear Channel Outdoor Holdings, Inc. $CCO

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 21.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 789,198 shares of the business services provider’s stock after selling 215,021 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of Clear Channel Outdoor worth $1,910,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CCO. Captrust Financial Advisors purchased a new stake in shares of Clear Channel Outdoor in the 4th quarter worth $27,000. EntryPoint Capital LLC purchased a new position in shares of Clear Channel Outdoor during the fourth quarter valued at $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Clear Channel Outdoor during the fourth quarter valued at $31,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Clear Channel Outdoor in the first quarter valued at about $32,000. Finally, Quantbot Technologies LP bought a new stake in shares of Clear Channel Outdoor in the second quarter valued at about $33,000. 85.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Clear Channel Outdoor from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $2.29.

Insider Activity at Clear Channel Outdoor

In related news, Director Raymond White sold 2,500,900 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $2.40, for a total value of $6,002,160.00. Following the completion of the transaction, the director directly owned 91,003 shares of the company’s stock, valued at $218,407.20. This trade represents a 96.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.70% of the stock is owned by insiders.

Clear Channel Outdoor Price Performance

Shares of CCO stock opened at $2.38 on Friday. The stock’s fifty day moving average price is $2.39 and its 200 day moving average price is $2.39. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $1.27 and a 1-year high of $2.44. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -11.36 and a beta of 1.95.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings results on Wednesday, August 5th. The business services provider reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $438.04 million during the quarter, compared to analysts’ expectations of $423.62 million. As a group, equities research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.05 earnings per share for the current year.

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.