Russell Investments Group Ltd. Increases Stake in Clear Channel Outdoor Holdings, Inc. $CCO

Russell Investments Group Ltd. lifted its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 28.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 546,947 shares of the business services provider’s stock after acquiring an additional 121,578 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of Clear Channel Outdoor worth $607,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CCO. Diameter Capital Partners LP raised its position in Clear Channel Outdoor by 2,210.5% in the 4th quarter. Diameter Capital Partners LP now owns 10,104,095 shares of the business services provider’s stock worth $13,843,000 after purchasing an additional 9,666,788 shares during the period. Readystate Asset Management LP grew its stake in shares of Clear Channel Outdoor by 37.9% during the first quarter. Readystate Asset Management LP now owns 6,267,547 shares of the business services provider’s stock valued at $6,957,000 after buying an additional 1,723,417 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Clear Channel Outdoor in the first quarter worth approximately $1,612,000. State of Wyoming raised its holdings in shares of Clear Channel Outdoor by 39.3% in the fourth quarter. State of Wyoming now owns 1,594,464 shares of the business services provider’s stock worth $2,184,000 after buying an additional 450,000 shares during the period. Finally, Net Worth Advisory Group bought a new stake in shares of Clear Channel Outdoor during the 1st quarter worth approximately $471,000. 85.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Arturo R. Moreno purchased 1,000,000 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $1.07 per share, for a total transaction of $1,070,000.00. Following the completion of the purchase, the insider owned 65,612,859 shares in the company, valued at approximately $70,205,759.13. This represents a 1.55% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders acquired 1,517,322 shares of company stock worth $1,632,717. 7.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed a “market perform” rating on shares of Clear Channel Outdoor in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.04.

Clear Channel Outdoor Stock Performance

Shares of NYSE:CCO opened at $1.24 on Friday. The firm’s 50 day simple moving average is $1.17 and its 200-day simple moving average is $1.14. Clear Channel Outdoor Holdings, Inc. has a one year low of $0.81 and a one year high of $1.77. The firm has a market cap of $613.81 million, a PE ratio of 30.88 and a beta of 2.65.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings data on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $402.81 million during the quarter, compared to the consensus estimate of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Clear Channel Outdoor 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.