JPMorgan Chase & Co. Acquires 610,110 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

JPMorgan Chase & Co. raised its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 9.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,371,308 shares of the business services provider’s stock after acquiring an additional 610,110 shares during the period. JPMorgan Chase & Co. owned approximately 1.51% of Clear Channel Outdoor worth $10,099,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cibc World Markets Corp bought a new position in Clear Channel Outdoor during the fourth quarter valued at approximately $45,000. KLP Kapitalforvaltning AS purchased a new stake in Clear Channel Outdoor during the 4th quarter valued at $53,000. Jacksonville Wealth Management LLC bought a new position in shares of Clear Channel Outdoor during the 4th quarter valued at $62,000. Intech Investment Management LLC boosted its stake in shares of Clear Channel Outdoor by 114.4% in the 4th quarter. Intech Investment Management LLC now owns 143,413 shares of the business services provider’s stock worth $196,000 after buying an additional 76,536 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Clear Channel Outdoor in the fourth quarter worth $216,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Trading Down 4.9 %

NYSE:CCO opened at $0.98 on Tuesday. The stock has a 50-day moving average price of $1.19 and a 200 day moving average price of $1.39. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $0.81 and a 12-month high of $1.88. The stock has a market capitalization of $480.01 million, a P/E ratio of -3.38 and a beta of 2.72.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Clear Channel Outdoor

In related news, major shareholder Arturo R. Moreno acquired 112,722 shares of the company’s stock in a transaction on Friday, April 11th. The stock was acquired at an average price of $1.01 per share, with a total value of $113,849.22. Following the acquisition, the insider now directly owns 59,729,814 shares of the company’s stock, valued at approximately $60,327,112.14. This trade represents a 0.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders purchased a total of 5,612,722 shares of company stock valued at $5,388,849 in the last three months. 1.53% of the stock is currently owned by corporate insiders.

Clear Channel Outdoor Company Profile

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.