Clear Channel Outdoor Holdings, Inc. $CCO Shares Purchased by Groupe la Francaise

Groupe la Francaise raised its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 55.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,971,103 shares of the business services provider’s stock after buying an additional 699,163 shares during the quarter. Groupe la Francaise’s holdings in Clear Channel Outdoor were worth $4,770,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CCO. BlackRock Inc. bought a new stake in Clear Channel Outdoor in the 2nd quarter valued at about $73,669,000. Anson Funds Management LP grew its position in Clear Channel Outdoor by 8.8% in the 4th quarter. Anson Funds Management LP now owns 19,842,452 shares of the business services provider’s stock worth $43,852,000 after purchasing an additional 1,604,125 shares during the last quarter. Glazer Capital LLC acquired a new stake in shares of Clear Channel Outdoor in the second quarter valued at approximately $29,763,000. Gamco Investors INC. ET AL raised its holdings in shares of Clear Channel Outdoor by 11.8% during the first quarter. Gamco Investors INC. ET AL now owns 9,085,775 shares of the business services provider’s stock valued at $21,533,000 after buying an additional 959,400 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Clear Channel Outdoor by 3.9% during the fourth quarter. JPMorgan Chase & Co. now owns 6,998,595 shares of the business services provider’s stock worth $15,467,000 after buying an additional 260,716 shares during the period. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Price Performance

CCO stock opened at $2.38 on Tuesday. The company has a 50-day simple moving average of $2.40 and a 200 day simple moving average of $2.39. The company has a market capitalization of $1.21 billion, a P/E ratio of -11.33 and a beta of 1.95. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $2.44.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results on Wednesday, August 5th. The business services provider reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $438.04 million for the quarter, compared to analyst estimates of $423.62 million. Equities analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.05 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Clear Channel Outdoor from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $2.29.

Insider Activity at Clear Channel Outdoor

In related news, Director Raymond White sold 2,500,900 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $2.40, for a total transaction of $6,002,160.00. Following the transaction, the director owned 91,003 shares in the company, valued at $218,407.20. This trade represents a 96.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.20% of the stock is owned by corporate insiders.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.