Alliancebernstein L.P. Decreases Stock Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Alliancebernstein L.P. trimmed its position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 380,440 shares of the business services provider’s stock after selling 10,860 shares during the quarter. Alliancebernstein L.P. owned approximately 0.08% of Clear Channel Outdoor worth $521,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CCO. Shenkman Capital Management Inc. boosted its stake in Clear Channel Outdoor by 34.0% during the 4th quarter. Shenkman Capital Management Inc. now owns 2,954,589 shares of the business services provider’s stock worth $4,048,000 after purchasing an additional 750,000 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Clear Channel Outdoor by 9.0% during the fourth quarter. JPMorgan Chase & Co. now owns 7,371,308 shares of the business services provider’s stock worth $10,099,000 after acquiring an additional 610,110 shares during the last quarter. Jane Street Group LLC boosted its position in Clear Channel Outdoor by 56.7% during 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 acquiring an additional 404,082 shares during the last quarter. Barclays PLC grew its stake in Clear Channel Outdoor by 271.2% during the 3rd quarter. Barclays PLC now owns 520,663 shares of the business services provider’s stock valued at $833,000 after acquiring an additional 380,408 shares in the last quarter. Finally, Fore Capital LLC raised its holdings in Clear Channel Outdoor by 3,586.5% in the 4th quarter. Fore Capital LLC now owns 368,650 shares of the business services provider’s stock valued at $505,000 after acquiring an additional 358,650 shares during the last quarter. 85.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 2,500,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $0.94 per share, for a total transaction of $2,350,000.00. Following the completion of the acquisition, the insider now owns 57,432,534 shares of the company’s stock, valued at approximately $53,986,581.96. The trade was a 4.55 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 7,093,366 shares of company stock worth $6,805,848. Insiders own 1.53% of the company’s stock.

Clear Channel Outdoor Stock Up 1.6 %

Shares of CCO opened at $0.96 on Monday. The stock has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $1.38. The company has a market capitalization of $468.01 million, a PE ratio of -3.29 and a beta of 2.72. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $0.81 and a 52-week high of $1.88.

Analyst Upgrades and Downgrades

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