Vanguard Group Inc. Lowers Holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Vanguard Group Inc. reduced its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,234,720 shares of the business services provider’s stock after selling 370,835 shares during the quarter. Vanguard Group Inc. owned about 7.20% of Clear Channel Outdoor worth $48,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CCO. Jane Street Group LLC increased its holdings in shares of Clear Channel Outdoor by 56.7% in the third quarter. Jane Street Group LLC now owns 1,116,893 shares of the business services provider’s stock worth $1,787,000 after purchasing an additional 404,082 shares during the last quarter. XTX Topco Ltd grew its holdings in Clear Channel Outdoor by 182.6% during the 3rd quarter. XTX Topco Ltd now owns 229,459 shares of the business services provider’s stock valued at $367,000 after buying an additional 148,271 shares in the last quarter. Barclays PLC increased its stake in Clear Channel Outdoor by 271.2% in the 3rd quarter. Barclays PLC now owns 520,663 shares of the business services provider’s stock worth $833,000 after acquiring an additional 380,408 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Clear Channel Outdoor by 0.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider’s stock worth $10,818,000 after acquiring an additional 54,566 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Clear Channel Outdoor by 31.2% during the 4th quarter. SG Americas Securities LLC now owns 294,947 shares of the business services provider’s stock valued at $404,000 after acquiring an additional 70,196 shares during the last quarter. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

NYSE CCO opened at $1.03 on Friday. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $0.81 and a fifty-two week high of $1.88. The company has a market cap of $502.31 million, a P/E ratio of -3.53 and a beta of 2.72. The business’s 50 day moving average price is $1.20 and its 200-day moving average price is $1.40.

Insider Activity at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 2,500,000 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $0.97 per share, for a total transaction of $2,425,000.00. Following the completion of the transaction, the insider now owns 54,932,534 shares in the company, valued at $53,284,557.98. This trade represents a 4.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have bought 5,500,000 shares of company stock worth $5,275,000. Insiders own 1.53% of the company’s stock.

Analysts Set New Price Targets

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

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.