Assenagon Asset Management S.A. Takes $1.50 Million Position in Clear Channel Outdoor Holdings, Inc. $CCO

Assenagon Asset Management S.A. purchased a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 950,007 shares of the business services provider’s stock, valued at approximately $1,501,000. Assenagon Asset Management S.A. owned approximately 0.19% of Clear Channel Outdoor at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sanders Morris Harris LLC purchased a new position in shares of Clear Channel Outdoor during the third quarter worth about $25,000. Squarepoint Ops LLC boosted its position in shares of Clear Channel Outdoor by 4,516.1% in the 2nd quarter. Squarepoint Ops LLC now owns 548,946 shares of the business services provider’s stock valued at $642,000 after purchasing an additional 537,054 shares during the period. Tower Research Capital LLC TRC grew its stake in Clear Channel Outdoor by 1,864.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 234,808 shares of the business services provider’s stock worth $275,000 after buying an additional 222,853 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Clear Channel Outdoor during the second quarter worth approximately $293,000. Finally, Engineers Gate Manager LP increased its position in Clear Channel Outdoor by 140.5% during the second quarter. Engineers Gate Manager LP now owns 177,545 shares of the business services provider’s stock worth $208,000 after buying an additional 103,729 shares during the period. Institutional investors and hedge funds own 85.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CCO shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Monday. TD Cowen increased their price target on shares of Clear Channel Outdoor from $2.50 to $2.80 and gave the stock a “buy” rating in a research note on Monday, October 20th. UBS Group set a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Thursday, September 25th. Wells Fargo & Company increased their target price on shares of Clear Channel Outdoor from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 12th. Finally, Wall Street Zen lowered Clear Channel Outdoor from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Clear Channel Outdoor has an average rating of “Hold” and an average price target of $2.32.

Clear Channel Outdoor Price Performance

Shares of CCO stock opened at $2.25 on Thursday. The business’s fifty day moving average price is $1.92 and its 200 day moving average price is $1.49. The firm has a market capitalization of $1.12 billion, a PE ratio of -225.00 and a beta of 2.27. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $0.81 and a 1-year high of $2.25.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Thursday, November 6th. The business services provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $405.64 million for the quarter, compared to analysts’ expectations of $402.03 million.

Clear Channel Outdoor Profile

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.