Zazove Associates LLC boosted its stake in CLEAR CHANNEL O/SH (NYSE:CCO) by 46.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 660,000 shares of the business services provider’s stock after buying an additional 208,129 shares during the period. Zazove Associates LLC owned approximately 0.18% of CLEAR CHANNEL O/SH worth $3,115,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in CLEAR CHANNEL O/SH by 56.4% in the fourth quarter. Legal & General Group Plc now owns 8,116 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 2,927 shares in the last quarter. Corient Capital Partners LLC acquired a new position in CLEAR CHANNEL O/SH in the first quarter valued at approximately $71,000. Northern Trust Corp boosted its holdings in CLEAR CHANNEL O/SH by 1.5% in the fourth quarter. Northern Trust Corp now owns 574,659 shares of the business services provider’s stock valued at $2,982,000 after purchasing an additional 8,301 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in CLEAR CHANNEL O/SH in the fourth quarter valued at approximately $70,000. Finally, Dimensional Fund Advisors LP boosted its holdings in CLEAR CHANNEL O/SH by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 587,121 shares of the business services provider’s stock valued at $3,047,000 after purchasing an additional 23,797 shares in the last quarter. Hedge funds and other institutional investors own 9.22% of the company’s stock.
Shares of CCO traded up $0.02 during trading hours on Wednesday, reaching $2.39. 164,003 shares of the company traded hands, compared to its average volume of 1,343,952. The company has a market cap of $1.11 billion, a PE ratio of -4.16 and a beta of 0.72. CLEAR CHANNEL O/SH has a fifty-two week low of $2.06 and a fifty-two week high of $6.38. The company’s fifty day moving average price is $3.78.
In other CLEAR CHANNEL O/SH news, CEO Christopher William Eccleshare sold 82,453 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $5.16, for a total value of $425,457.48. Following the sale, the chief executive officer now directly owns 984,712 shares of the company’s stock, valued at approximately $5,081,113.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.70% of the stock is currently owned by company insiders.
CCO has been the subject of a number of research analyst reports. ValuEngine cut CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. TheStreet cut CLEAR CHANNEL O/SH from a “c-” rating to a “d” rating in a research report on Tuesday, May 7th. Barrington Research restated a “buy” rating and issued a $6.50 price target on shares of CLEAR CHANNEL O/SH in a research report on Monday, April 29th. Zacks Investment Research upgraded CLEAR CHANNEL O/SH from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research report on Friday, August 9th. Finally, Wolfe Research cut CLEAR CHANNEL O/SH from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. CLEAR CHANNEL O/SH presently has an average rating of “Hold” and an average target price of $10.63.
About CLEAR CHANNEL O/SH
Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.
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