Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Acquires $2,350,000.00 in Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Arturo R. Moreno bought 2,500,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average price of $0.94 per share, for a total transaction of $2,350,000.00. Following the completion of the acquisition, the insider now owns 57,432,534 shares of the company’s stock, valued at $53,986,581.96. The trade was a 4.55 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Trading Down 2.2 %

Shares of NYSE CCO opened at $1.02 on Friday. The company has a market capitalization of $498.39 million, a P/E ratio of -3.51 and a beta of 2.72. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $0.81 and a 12 month high of $1.88. The stock has a 50 day moving average of $1.21 and a 200-day moving average of $1.40.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Clear Channel Outdoor

Several large investors have recently modified their holdings of the stock. Graham Capital Management L.P. acquired a new stake in Clear Channel Outdoor during the fourth quarter worth approximately $36,000. Cibc World Markets Corp bought a new stake in shares of Clear Channel Outdoor during the 4th quarter worth $45,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $53,000. Jacksonville Wealth Management LLC bought a new position in Clear Channel Outdoor in the 4th quarter valued at approximately $62,000. Finally, Brevan Howard Capital Management LP bought a new position in Clear Channel Outdoor in the 4th quarter valued at approximately $92,000. 85.52% of the stock is owned by institutional investors.

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.