Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Shares Sold by Deutsche Bank AG

Deutsche Bank AG trimmed its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 18.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,490,694 shares of the business services provider’s stock after selling 340,714 shares during the period. Deutsche Bank AG’s holdings in Clear Channel Outdoor were worth $2,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CCO. Diameter Capital Partners LP increased its position in shares of Clear Channel Outdoor by 2,210.5% during the 4th quarter. Diameter Capital Partners LP now owns 10,104,095 shares of the business services provider’s stock valued at $13,843,000 after purchasing an additional 9,666,788 shares during the period. Geode Capital Management LLC increased its stake in Clear Channel Outdoor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 7,849,191 shares of the business services provider’s stock worth $10,756,000 after purchasing an additional 34,262 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Clear Channel Outdoor by 9.0% during the 4th quarter. JPMorgan Chase & Co. now owns 7,371,308 shares of the business services provider’s stock valued at $10,099,000 after purchasing an additional 610,110 shares during the period. Gamco Investors INC. ET AL raised its holdings in shares of Clear Channel Outdoor by 7.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 5,636,000 shares of the business services provider’s stock worth $7,721,000 after acquiring an additional 405,500 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Clear Channel Outdoor by 3.8% during the 4th quarter. Northern Trust Corp now owns 3,205,102 shares of the business services provider’s stock worth $4,391,000 after acquiring an additional 117,516 shares in the last quarter. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Price Performance

Clear Channel Outdoor stock opened at $1.12 on Friday. The business has a 50 day simple moving average of $1.06 and a 200 day simple moving average of $1.30. Clear Channel Outdoor Holdings, Inc. has a one year low of $0.81 and a one year high of $1.88. The company has a market capitalization of $553.84 million, a PE ratio of -3.84 and a beta of 2.58.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Thursday, May 1st. The business services provider reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The firm had revenue of $334.18 million during the quarter, compared to analyst estimates of $337.70 million.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CCO. Morgan Stanley lowered their price target on Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Barrington Research lowered Clear Channel Outdoor from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 23rd.

Insider Buying and Selling at Clear Channel Outdoor

In other news, major shareholder Arturo R. Moreno bought 200,000 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $1.09 per share, for a total transaction of $218,000.00. Following the completion of the purchase, the insider now owns 62,894,358 shares of the company’s stock, valued at approximately $68,554,850.22. The trade was a 0.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Wells bought 50,000 shares of Clear Channel Outdoor stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $1.08 per share, for a total transaction of $54,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,392,205 shares in the company, valued at $3,663,581.40. This represents a 1.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 7,947,442 shares of company stock worth $7,709,003 over the last ninety days. Corporate insiders own 7.70% of the company’s stock.

Clear Channel Outdoor 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.