Gallagher Fiduciary Advisors LLC increased its holdings in CLEAR CHANNEL O/SH (NYSE:CCO) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 617,982 shares of the business services provider’s stock after acquiring an additional 52,400 shares during the quarter. CLEAR CHANNEL O/SH makes up 0.4% of Gallagher Fiduciary Advisors LLC’s portfolio, making the stock its 9th biggest position. Gallagher Fiduciary Advisors LLC owned 0.17% of CLEAR CHANNEL O/SH worth $3,306,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Corient Capital Partners LLC acquired a new position in shares of CLEAR CHANNEL O/SH during the 1st quarter worth about $71,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in shares of CLEAR CHANNEL O/SH by 24.0% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 31,000 shares of the business services provider’s stock worth $166,000 after buying an additional 6,000 shares during the period. Gabelli Funds LLC boosted its holdings in shares of CLEAR CHANNEL O/SH by 0.3% during the 1st quarter. Gabelli Funds LLC now owns 3,127,701 shares of the business services provider’s stock worth $16,733,000 after buying an additional 9,300 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of CLEAR CHANNEL O/SH by 288.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,694 shares of the business services provider’s stock worth $47,000 after buying an additional 6,458 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of CLEAR CHANNEL O/SH during the 4th quarter worth about $85,000. Institutional investors and hedge funds own 8.92% of the company’s stock.
Several analysts recently commented on the stock. TheStreet raised shares of CLEAR CHANNEL O/SH from a “d” rating to a “c-” rating in a report on Friday, March 8th. Barrington Research reissued a “buy” rating and issued a $6.50 price objective on shares of CLEAR CHANNEL O/SH in a report on Thursday, April 18th. ValuEngine downgraded shares of CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Zacks Investment Research downgraded shares of CLEAR CHANNEL O/SH from a “hold” rating to a “strong sell” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. CLEAR CHANNEL O/SH currently has a consensus rating of “Hold” and a consensus target price of $10.00.
In other CLEAR CHANNEL O/SH news, major shareholder Pacific Investment Management sold 1,201,851 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $5.05, for a total value of $6,069,347.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher William Eccleshare sold 82,453 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $5.16, for a total transaction of $425,457.48. Following the sale, the chief executive officer now owns 984,712 shares of the company’s stock, valued at $5,081,113.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,285,304 shares of company stock valued at $6,500,205. Corporate insiders own 4.70% of the company’s stock.
Shares of CLEAR CHANNEL O/SH stock traded down $0.01 on Wednesday, reaching $4.65. 1,138,721 shares of the stock were exchanged, compared to its average volume of 563,067. The firm’s 50 day simple moving average is $5.09. CLEAR CHANNEL O/SH has a one year low of $4.22 and a one year high of $6.38. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -8.02 and a beta of 0.89.
CLEAR CHANNEL O/SH (NYSE:CCO) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.23). The company had revenue of $587.12 million for the quarter, compared to analyst estimates of $584.92 million. As a group, research analysts anticipate that CLEAR CHANNEL O/SH will post -0.6 EPS for the current year.
CLEAR CHANNEL O/SH Company Profile
Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.
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