Bank of New York Mellon Corp Cuts Stock Holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Bank of New York Mellon Corp trimmed its position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,080,186 shares of the business services provider’s stock after selling 29,796 shares during the quarter. Bank of New York Mellon Corp’s holdings in Clear Channel Outdoor were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CCO. Crewe Advisors LLC bought a new stake in shares of Clear Channel Outdoor during the 3rd quarter worth $32,000. Jacksonville Wealth Management LLC bought a new stake in shares of Clear Channel Outdoor during the 4th quarter worth $62,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Clear Channel Outdoor during the 3rd quarter worth $65,000. Intech Investment Management LLC bought a new stake in shares of Clear Channel Outdoor during the 3rd quarter worth $107,000. Finally, Empowered Funds LLC bought a new stake in shares of Clear Channel Outdoor during the 4th quarter worth $216,000. 85.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Barrington Research reiterated 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 Stock Performance

Shares of Clear Channel Outdoor stock opened at $1.17 on Friday. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $1.09 and a 52-week high of $1.88. The stock’s 50-day simple moving average is $1.33 and its 200 day simple moving average is $1.46. The stock has a market capitalization of $570.92 million, a P/E ratio of -4.02 and a beta of 3.05.

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.