Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 2.8% during the fourth quarter, Holdings Channel reports. The firm owned 380,440 shares of the business services provider’s stock after selling 10,860 shares during the quarter. Alliancebernstein L.P.’s holdings in Clear Channel Outdoor were worth $521,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Clear Channel Outdoor by 9.0% in 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 buying an additional 610,110 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Clear Channel Outdoor in the 4th quarter valued at about $53,000. Intech Investment Management LLC lifted its position in shares of Clear Channel Outdoor by 114.4% during the fourth quarter. Intech Investment Management LLC now owns 143,413 shares of the business services provider’s stock worth $196,000 after purchasing an additional 76,536 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Clear Channel Outdoor during the fourth quarter worth about $45,000. Finally, Shenkman Capital Management Inc. boosted its stake in shares of Clear Channel Outdoor by 34.0% in the fourth quarter. Shenkman Capital Management Inc. now owns 2,954,589 shares of the business services provider’s stock valued at $4,048,000 after purchasing an additional 750,000 shares during the period. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Clear Channel Outdoor

In other news, major shareholder Arturo R. Moreno acquired 2,500,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was acquired at an average cost of $0.94 per share, with a total value of $2,350,000.00. Following the transaction, the insider now owns 57,432,534 shares in the company, valued at approximately $53,986,581.96. This trade represents a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders purchased 7,093,366 shares of company stock valued at $6,805,848. 1.53% of the stock is currently owned by corporate insiders.

Clear Channel Outdoor Price Performance

CCO opened at $0.96 on Monday. The business has a fifty day moving average price of $1.16 and a 200 day moving average price of $1.38. 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 market capitalization of $468.01 million, a price-to-earnings ratio of -3.29 and a beta of 2.72.

Analysts Set New Price Targets

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

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.