Charles Schwab Investment Management Inc. Cuts Stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Charles Schwab Investment Management Inc. trimmed its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 23.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,250,034 shares of the business services provider’s stock after selling 1,896,967 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.28% of Clear Channel Outdoor worth $10,000,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CCO. Price T Rowe Associates Inc. MD increased its holdings in shares of Clear Channel Outdoor by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider’s stock worth $534,000 after purchasing an additional 17,901 shares during the last quarter. SG Americas Securities LLC increased its stake in Clear Channel Outdoor by 47.3% in the 2nd quarter. SG Americas Securities LLC now owns 291,755 shares of the business services provider’s stock worth $411,000 after acquiring an additional 93,686 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Clear Channel Outdoor during the second quarter valued at $1,114,000. Genesee Capital Advisors LLC purchased a new stake in shares of Clear Channel Outdoor during the 2nd quarter valued at about $136,000. Finally, AEGON USA Investment Management LLC lifted its holdings in shares of Clear Channel Outdoor by 53.4% in the 2nd quarter. AEGON USA Investment Management LLC now owns 154,449 shares of the business services provider’s stock valued at $218,000 after acquiring an additional 53,736 shares during the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Insider Buying and Selling at Clear Channel Outdoor

In related news, major shareholder Arturo R. Moreno purchased 250,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price of $1.45 per share, with a total value of $362,500.00. Following the acquisition, the insider now owns 52,182,534 shares in the company, valued at $75,664,674.30. The trade was a 0.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.20% of the stock is currently owned by corporate insiders.

Clear Channel Outdoor Stock Performance

Clear Channel Outdoor stock opened at $1.56 on Tuesday. The business’s 50-day simple moving average is $1.56 and its two-hundred day simple moving average is $1.53. The company has a market cap of $760.52 million, a PE ratio of -5.36 and a beta of 3.05. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $1.29 and a fifty-two week high of $2.06.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Thursday, October 31st. Wells Fargo & Company downgraded shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $2.75 to $1.75 in a research note on Thursday, September 19th. Finally, TD Cowen dropped their price objective on Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Clear Channel Outdoor presently has a consensus rating of “Hold” and an average target price of $2.16.

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.