Healthcare of Ontario Pension Plan Trust Fund Lowers Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCOGet Rating) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,879,000 shares of the business services provider’s stock after selling 235,400 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 1.03% of Clear Channel Outdoor worth $5,221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Clear Channel Outdoor by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 37,671,943 shares of the business services provider’s stock valued at $130,345,000 after purchasing an additional 2,381,643 shares during the last quarter. State Street Corp grew its stake in shares of Clear Channel Outdoor by 4.2% during the 1st quarter. State Street Corp now owns 7,947,071 shares of the business services provider’s stock worth $27,497,000 after acquiring an additional 321,422 shares during the period. Diameter Capital Partners LP bought a new position in shares of Clear Channel Outdoor during the 1st quarter worth $25,915,000. Conversant Capital LLC grew its stake in shares of Clear Channel Outdoor by 15.2% during the 1st quarter. Conversant Capital LLC now owns 5,000,000 shares of the business services provider’s stock worth $17,300,000 after acquiring an additional 658,107 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Clear Channel Outdoor by 80.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,226,326 shares of the business services provider’s stock worth $4,522,000 after acquiring an additional 1,880,628 shares during the period. 96.70% of the stock is owned by hedge funds and other institutional investors.

Clear Channel Outdoor Stock Down 2.8 %

NYSE:CCO opened at $1.06 on Monday. The stock has a market cap of $504.62 million, a P/E ratio of -3.79 and a beta of 2.43. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $0.91 and a twelve month high of $4.10. The business’s 50-day moving average price is $1.47 and its two-hundred day moving average price is $1.50.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCO. Morgan Stanley cut their price target on Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Wednesday, November 9th. Cowen cut their target price on Clear Channel Outdoor to $3.50 in a research note on Monday, August 15th. Barrington Research cut their target price on Clear Channel Outdoor from $3.25 to $2.50 in a research note on Wednesday, November 16th. Finally, StockNews.com initiated coverage on Clear Channel Outdoor in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Insider Activity at Clear Channel Outdoor

In other news, major shareholder Ares Management Llc acquired 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were bought at an average cost of $1.40 per share, with a total value of $280,000.00. Following the acquisition, the insider now owns 48,271,580 shares in the company, valued at approximately $67,580,212. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have bought 1,800,000 shares of company stock valued at $2,706,000. Corporate insiders own 1.90% of the company’s stock.

Clear Channel Outdoor Profile

(Get Rating)

Clear Channel Outdoor Holdings, Inc owns, operates, and sells advertising displays in the United States and internationally. It operates through two segments, Americas and Europe. 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; spectaculars, which are customized display structures that incorporate videos, multidimensional lettering and figures, mechanical devices and moving parts, and other embellishments; wallscape, a display that drapes over or is suspended from the sides of buildings or other structures.

Featured Stories

Institutional Ownership by Quarter for Clear Channel Outdoor (NYSE:CCO)

Receive News & Ratings for Clear Channel Outdoor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clear Channel Outdoor and related companies with MarketBeat.com's FREE daily email newsletter.