Insider Buying: Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Purchases 2,500,000 Shares of Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Arturo R. Moreno purchased 2,500,000 shares of the stock in a transaction on Monday, April 7th. The shares were bought at an average cost of $0.94 per share, for a total transaction of $2,350,000.00. Following the transaction, the insider now directly owns 57,432,534 shares in the company, valued at approximately $53,986,581.96. The trade was a 4.55 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Clear Channel Outdoor Stock Performance

Clear Channel Outdoor stock opened at $1.03 on Thursday. The stock has a 50-day simple moving average of $1.22 and a 200 day simple moving average of $1.41. The stock has a market capitalization of $504.76 million, a P/E ratio of -3.55 and a beta of 2.72. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $1.88.

Wall Street Analysts Forecast Growth

Separately, Barrington Research restated an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a report on Monday, February 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Clear Channel Outdoor by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider’s stock valued at $277,000 after purchasing an additional 11,015 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Clear Channel Outdoor by 8.5% in the fourth quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 13,824 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Clear Channel Outdoor by 24.2% during the 4th quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider’s stock worth $133,000 after buying an additional 18,958 shares during the last quarter. DigitalBridge Group Inc. boosted its holdings in shares of Clear Channel Outdoor by 2.4% during the 4th quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider’s stock worth $1,129,000 after buying an additional 19,100 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Clear Channel Outdoor by 7.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 376,987 shares of the business services provider’s stock valued at $518,000 after buying an additional 25,197 shares during the last quarter. 85.52% of the stock is owned by institutional investors and hedge funds.

About Clear Channel Outdoor

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.