Clear Channel Outdoor (NYSE:CCO) Trading 4.4% Higher on Insider Buying Activity

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) traded up 4.4% during trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $1.08 and last traded at $1.07. 609,195 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,675,060 shares. The stock had previously closed at $1.02.

Specifically, major shareholder Arturo R. Moreno purchased 144,601 shares of Clear Channel Outdoor stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average price of $1.02 per share, with a total value of $147,493.02. Following the transaction, the insider now owns 61,643,729 shares in the company, valued at $62,876,603.58. This trade represents a 0.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Arturo R. Moreno acquired 29,289 shares of the company’s stock in a transaction on Monday, April 21st. The stock was acquired at an average cost of $0.94 per share, for a total transaction of $27,531.66. Following the completion of the purchase, the insider now directly owns 61,445,196 shares of the company’s stock, valued at approximately $57,758,484.24. This represents a 0.05 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

Separately, Barrington Research downgraded shares of Clear Channel Outdoor from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 23rd.

Clear Channel Outdoor Stock Up 2.5 %

The company has a market cap of $512.11 million, a PE ratio of -3.60 and a beta of 2.72. The company has a 50-day moving average of $1.11 and a 200-day moving average of $1.35.

Hedge Funds Weigh In On Clear Channel Outdoor

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Clear Channel Outdoor by 271.2% during the third quarter. Barclays PLC now owns 520,663 shares of the business services provider’s stock valued at $833,000 after purchasing an additional 380,408 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Clear Channel Outdoor by 9.0% in the 4th quarter. JPMorgan Chase & Co. now owns 7,371,308 shares of the business services provider’s stock valued at $10,099,000 after buying an additional 610,110 shares during the last quarter. SG Americas Securities LLC lifted 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 worth $404,000 after buying an additional 70,196 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Clear Channel Outdoor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 7,849,191 shares of the business services provider’s stock worth $10,756,000 after buying an additional 34,262 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Clear Channel Outdoor by 114.4% in the fourth quarter. Intech Investment Management LLC now owns 143,413 shares of the business services provider’s stock valued at $196,000 after acquiring an additional 76,536 shares in the last quarter. 85.52% of the stock is owned by hedge funds and other institutional investors.

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.