UBS Oconnor LLC Invests $2.72 Million in CLEAR CHANNEL O/SH (NYSE:CCO)

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UBS Oconnor LLC purchased a new position in CLEAR CHANNEL O/SH (NYSE:CCO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 577,000 shares of the business services provider’s stock, valued at approximately $2,723,000.

Several other hedge funds have also bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of CLEAR CHANNEL O/SH by 1,031.9% in the second quarter. Bank of America Corp DE now owns 562,514 shares of the business services provider’s stock valued at $2,655,000 after acquiring an additional 512,818 shares in the last quarter. HBK Investments L P purchased a new position in shares of CLEAR CHANNEL O/SH in the second quarter valued at about $19,113,000. Brookfield Asset Management Inc. purchased a new position in shares of CLEAR CHANNEL O/SH in the second quarter valued at about $2,431,000. Balyasny Asset Management LLC purchased a new position in shares of CLEAR CHANNEL O/SH in the second quarter valued at about $3,754,000. Finally, Brigade Capital Management LP purchased a new position in shares of CLEAR CHANNEL O/SH in the second quarter valued at about $14,202,000. Hedge funds and other institutional investors own 76.05% of the company’s stock.

In other CLEAR CHANNEL O/SH news, CEO Christopher William Eccleshare sold 81,454 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $2.54, for a total transaction of $206,893.16. Following the sale, the chief executive officer now directly owns 950,536 shares in the company, valued at $2,414,361.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott Wells acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $2.36 per share, for a total transaction of $35,400.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 435,000 shares of company stock worth $996,200. Company insiders own 4.70% of the company’s stock.

CCO stock traded up $0.08 during midday trading on Thursday, reaching $2.87. 153,981 shares of the company traded hands, compared to its average volume of 4,303,369. CLEAR CHANNEL O/SH has a 52-week low of $2.06 and a 52-week high of $6.38. The business has a 50 day moving average of $2.58 and a 200-day moving average of $4.38. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -4.97 and a beta of 0.79.

CLEAR CHANNEL O/SH (NYSE:CCO) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $698.02 million for the quarter, compared to analysts’ expectations of $698.33 million. As a group, equities research analysts forecast that CLEAR CHANNEL O/SH will post -0.5 EPS for the current year.

Several equities analysts have recently commented on the company. ValuEngine downgraded CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Wolfe Research downgraded CLEAR CHANNEL O/SH from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Zacks Investment Research upgraded CLEAR CHANNEL O/SH from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Friday, August 9th. Barclays began coverage on CLEAR CHANNEL O/SH in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $3.00 target price on the stock. Finally, Cowen began coverage on CLEAR CHANNEL O/SH in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $3.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $7.31.

CLEAR CHANNEL O/SH Company Profile

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.

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Want to see what other hedge funds are holding CCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CLEAR CHANNEL O/SH (NYSE:CCO).

Institutional Ownership by Quarter for CLEAR CHANNEL O/SH (NYSE:CCO)

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