Whitebox Advisors LLC Sells 456,149 Shares of Clear Channel Outdoor Holdings, Inc. $CCO

Whitebox Advisors LLC decreased its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 18.5% during the 1st quarter, Holdings Channel reports. The firm owned 2,003,835 shares of the business services provider’s stock after selling 456,149 shares during the period. Whitebox Advisors LLC’s holdings in Clear Channel Outdoor were worth $4,749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benefit Street Partners LLC bought a new stake in Clear Channel Outdoor in the 4th quarter worth $3,310,000. Gamco Investors INC. ET AL raised its stake in shares of Clear Channel Outdoor by 11.8% during the first quarter. Gamco Investors INC. ET AL now owns 9,085,775 shares of the business services provider’s stock valued at $21,533,000 after acquiring an additional 959,400 shares during the last quarter. Man Investment Partners US LP bought a new position in shares of Clear Channel Outdoor during the fourth quarter valued at about $4,612,000. Sentinel Dome Partners LLC bought a new position in shares of Clear Channel Outdoor during the fourth quarter valued at about $3,470,000. Finally, Occam Crest Management LP boosted its holdings in shares of Clear Channel Outdoor by 423.7% during the fourth quarter. Occam Crest Management LP now owns 3,404,300 shares of the business services provider’s stock worth $7,524,000 after purchasing an additional 2,754,300 shares during the period. 85.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCO has been the topic of several recent analyst reports. TD Cowen reissued a “hold” rating and issued a $2.43 target price (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Clear Channel Outdoor currently has an average rating of “Reduce” and a consensus price target of $2.29.

Clear Channel Outdoor Trading Up 0.2%

Shares of NYSE CCO opened at $2.42 on Monday. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $1.00 and a 12 month high of $2.43. The firm has a market capitalization of $1.23 billion, a PE ratio of -13.42 and a beta of 1.95. The firm has a fifty day simple moving average of $2.40 and a two-hundred day simple moving average of $2.34.

Clear Channel Outdoor (NYSE:CCO) last posted its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) 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, sell-side analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In other Clear Channel Outdoor news, Director Raymond T. White sold 2,500,900 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 91,003 shares in the company, valued at $218,407.20. This trade represents a 96.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 26,239,967 shares of company stock valued at $62,975,921 in the last ninety days. Company insiders own 7.20% 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.