Clear Channel Outdoor Holdings, Inc. $CCO Shares Acquired by US Bancorp DE

US Bancorp DE lifted its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 16,260.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 316,247 shares of the business services provider’s stock after acquiring an additional 314,314 shares during the period. US Bancorp DE owned approximately 0.06% of Clear Channel Outdoor worth $500,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Gamco Investors INC. ET AL raised its position in shares of Clear Channel Outdoor by 16.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 6,992,175 shares of the business services provider’s stock valued at $8,181,000 after purchasing an additional 968,225 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Clear Channel Outdoor by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,775,078 shares of the business services provider’s stock valued at $7,927,000 after purchasing an additional 59,366 shares in the last quarter. Millennium Management LLC increased its stake in Clear Channel Outdoor by 22.9% during the 1st quarter. Millennium Management LLC now owns 4,893,895 shares of the business services provider’s stock valued at $5,432,000 after purchasing an additional 912,632 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Clear Channel Outdoor by 12.7% in the second quarter. Franklin Resources Inc. now owns 4,437,527 shares of the business services provider’s stock worth $5,192,000 after buying an additional 498,318 shares during the last quarter. Finally, Whitebox Advisors LLC raised its holdings in shares of Clear Channel Outdoor by 44.7% in the second quarter. Whitebox Advisors LLC now owns 3,233,484 shares of the business services provider’s stock worth $3,783,000 after buying an additional 998,984 shares during the last quarter. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Up 0.2%

Shares of NYSE CCO opened at $2.38 on Tuesday. The firm has a 50-day simple moving average of $2.23 and a 200-day simple moving average of $1.89. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 47.51 and a beta of 2.30. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings results on Thursday, February 26th. The business services provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $461.52 million for the quarter, compared to analyst estimates of $449.10 million.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Zacks Research lowered shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Monday, December 29th. Wells Fargo & Company lifted their price target on Clear Channel Outdoor from $2.00 to $2.43 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Morgan Stanley set a $2.00 price objective on Clear Channel Outdoor in a report on Monday, November 10th. Finally, TD Cowen set a $2.50 price objective on Clear Channel Outdoor in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $2.31.

About Clear Channel Outdoor

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.