Clear Channel Outdoor Holdings, Inc. $CCO Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 13.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,482,851 shares of the business services provider’s stock after selling 225,817 shares during the period. Tidal Investments LLC’s holdings in Clear Channel Outdoor were worth $3,588,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CCO. WINTON GROUP Ltd acquired a new position in shares of Clear Channel Outdoor in the second quarter valued at approximately $57,000. Amundi grew its position in Clear Channel Outdoor by 94.9% in the 2nd quarter. Amundi now owns 86,325 shares of the business services provider’s stock valued at $209,000 after buying an additional 42,028 shares during the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in Clear Channel Outdoor in the 2nd quarter valued at $3,801,000. Groupe la Francaise increased its stake in Clear Channel Outdoor by 55.0% in the 2nd quarter. Groupe la Francaise now owns 1,971,103 shares of the business services provider’s stock valued at $4,770,000 after buying an additional 699,163 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Clear Channel Outdoor during the 2nd quarter worth $39,000. 85.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Clear Channel Outdoor from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $2.29.

Clear Channel Outdoor Stock Up 0.2%

Shares of NYSE CCO opened at $2.38 on Tuesday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -11.36 and a beta of 1.95. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $1.27 and a 52 week high of $2.44. The firm has a 50-day moving average price of $2.39 and a 200 day moving average price of $2.39.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Wednesday, August 5th. The business services provider reported ($0.01) earnings per share for the quarter, hitting 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 research analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.05 EPS for the current fiscal year.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc is an out-of-home advertising company that provides businesses and organizations with advertising space across physical and digital displays. Its offerings include traditional and digital billboards, street furniture, transit advertising, airport displays, wallscapes, and other large-format advertising installations.

The company sells advertising campaigns to national, regional, and local advertisers and supports them with audience insights, campaign planning, creative services, and digital-out-of-home capabilities.