Squarepoint Ops LLC Lowers Stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Squarepoint Ops LLC lessened its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 72.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,955 shares of the business services provider’s stock after selling 255,033 shares during the period. Squarepoint Ops LLC’s holdings in Clear Channel Outdoor were worth $133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Empowered Funds LLC purchased a new position in Clear Channel Outdoor in the 4th quarter valued at about $216,000. Permanent Capital Management LP acquired a new position in shares of Clear Channel Outdoor in the fourth quarter worth $477,000. Fore Capital LLC grew its stake in shares of Clear Channel Outdoor by 3,586.5% in the fourth quarter. Fore Capital LLC now owns 368,650 shares of the business services provider’s stock worth $505,000 after acquiring an additional 358,650 shares in the last quarter. Shenkman Capital Management Inc. lifted its position in shares of 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. Finally, Cibc World Markets Corp purchased a new stake in shares of Clear Channel Outdoor during the 4th quarter worth $45,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Trading Up 0.4%

Shares of Clear Channel Outdoor stock opened at $1.15 on Tuesday. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $0.81 and a twelve month high of $1.88. The stock has a market capitalization of $568.74 million, a price-to-earnings ratio of -3.95 and a beta of 2.59. The business’s 50 day simple moving average is $1.05 and its 200-day simple moving average is $1.26.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $334.18 million for the quarter, compared to analyst estimates of $337.70 million.

Insiders Place Their Bets

In other news, major shareholder Arturo R. Moreno bought 200,000 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $1.09 per share, for a total transaction of $218,000.00. Following the completion of the purchase, the insider now owns 62,894,358 shares of the company’s stock, valued at approximately $68,554,850.22. The trade was a 0.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Wells acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $1.08 per share, with a total value of $54,000.00. Following the transaction, the chief executive officer now directly owns 3,392,205 shares in the company, valued at $3,663,581.40. The trade was a 1.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 8,009,591 shares of company stock valued at $7,774,881 over the last three months. 7.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Barrington Research lowered 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 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.