Cibc World Markets Corp Acquires New Stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Cibc World Markets Corp bought a new position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 33,008 shares of the business services provider’s stock, valued at approximately $45,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Clear Channel Outdoor in the third quarter worth approximately $65,000. Jacksonville Wealth Management LLC purchased a new stake in shares of Clear Channel Outdoor during the 4th quarter valued at $62,000. Intech Investment Management LLC bought a new stake in shares of Clear Channel Outdoor during the 3rd quarter worth $107,000. Empowered Funds LLC bought a new stake in shares of Clear Channel Outdoor during the 4th quarter worth $216,000. Finally, XTX Topco Ltd grew its position in Clear Channel Outdoor by 182.6% in the third quarter. XTX Topco Ltd now owns 229,459 shares of the business services provider’s stock worth $367,000 after acquiring an additional 148,271 shares in the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

Shares of CCO opened at $1.13 on Friday. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $1.88. The firm has a 50 day moving average price of $1.31 and a 200-day moving average price of $1.46. The firm has a market cap of $551.32 million, a price-to-earnings ratio of -3.88 and a beta of 3.05.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and set a $2.50 price target on shares of Clear Channel Outdoor in a research note on Monday, February 24th.

About Clear Channel Outdoor

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.