Penn Capital Management Company LLC Acquires Shares of 282,225 Clear Channel Outdoor Holdings, Inc. $CCO

Penn Capital Management Company LLC acquired a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 282,225 shares of the business services provider’s stock, valued at approximately $624,000. Penn Capital Management Company LLC owned 0.06% of Clear Channel Outdoor at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CCO. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Clear Channel Outdoor during the fourth quarter valued at $31,000. Advisors Capital Management LLC grew its holdings in Clear Channel Outdoor by 91.7% during the third quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 11,000 shares during the period. Zacks Investment Management bought a new position in Clear Channel Outdoor during the third quarter valued at $36,000. Jefferies Financial Group Inc. bought a new position in Clear Channel Outdoor during the third quarter valued at $45,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Clear Channel Outdoor by 106.8% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,811 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 15,911 shares during the period. 85.52% of the stock is owned by institutional investors.

Clear Channel Outdoor Stock Performance

Shares of CCO stock opened at $2.40 on Thursday. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $1.00 and a 52-week high of $2.43. The company has a market capitalization of $1.22 billion, a PE ratio of -13.31 and a beta of 1.99. The business’s fifty day moving average is $2.38 and its 200 day moving average is $2.23.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $373.86 million during the quarter, compared to the consensus estimate of $348.71 million. On average, sell-side analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CCO. Wells Fargo & Company increased their price objective on Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a report on Friday, February 27th. TD Cowen restated a “hold” rating and set a $2.43 target price (down from $2.50) on shares of Clear Channel Outdoor in a research report on Monday, April 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Friday, March 27th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $2.29.

Clear Channel Outdoor Company Profile

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.