Scotia Capital Inc. Makes New Investment in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Scotia Capital Inc. purchased a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 34,668 shares of the business services provider’s stock, valued at approximately $36,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new position in shares of Clear Channel Outdoor in the 1st quarter valued at about $35,000. Covestor Ltd lifted its holdings in shares of Clear Channel Outdoor by 12,212.4% in the 1st quarter. Covestor Ltd now owns 20,931 shares of the business services provider’s stock valued at $72,000 after buying an additional 20,761 shares during the period. Parallax Volatility Advisers L.P. acquired a new position in shares of Clear Channel Outdoor in the 3rd quarter valued at about $30,000. Metropolitan Life Insurance Co NY lifted its holdings in shares of Clear Channel Outdoor by 67.9% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 22,697 shares of the business services provider’s stock valued at $31,000 after buying an additional 9,181 shares during the period. Finally, Ethos Financial Group LLC acquired a new position in Clear Channel Outdoor in the 4th quarter worth about $31,000.

Clear Channel Outdoor Price Performance

Shares of NYSE CCO opened at $1.31 on Tuesday. The business has a 50-day moving average of $1.17 and a two-hundred day moving average of $1.29. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $0.91 and a 1 year high of $2.14. The company has a market capitalization of $632.52 million, a price-to-earnings ratio of -16.38 and a beta of 2.49.

Clear Channel Outdoor (NYSE:CCO – Get Rating) last posted its earnings results on Tuesday, February 28th. The business services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.18. The firm had revenue of $709.16 million for the quarter, compared to analyst estimates of $706.58 million. As a group, equities research analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup boosted their price objective on Clear Channel Outdoor from $1.10 to $1.90 and gave the stock a “neutral” rating in a research note on Thursday, February 16th. Barrington Research reaffirmed an “outperform” rating and set a $2.50 price target on shares of Clear Channel Outdoor in a report on Monday, March 6th. Wells Fargo & Company decreased their price target on Clear Channel Outdoor from $1.50 to $1.25 in a report on Tuesday, May 9th. Finally, StockNews.com assumed coverage on Clear Channel Outdoor in a report on Thursday, May 18th. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.13.

About Clear Channel Outdoor

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Clear Channel Outdoor Holdings, Inc engages in the provision of outdoor advertising solutions. It operates through the Americas and Other segments. The Americas segment consists of operations U.S. operations excluding airports. Europe-North, which consists of operations in the U.K., the Nordics and several other countries throughout northern and central Europe, and Europe-South, which covers the operations in France, Switzerland, Spain and Italy.