Wolverine Asset Management LLC raised its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Free Report) by 40.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,390,168 shares of the business services provider’s stock after buying an additional 402,032 shares during the period. Wolverine Asset Management LLC’s holdings in Clear Channel Outdoor were worth $2,530,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Legion Partners Asset Management LLC boosted its stake in Clear Channel Outdoor by 7.1% in the 3rd quarter. Legion Partners Asset Management LLC now owns 26,530,196 shares of the business services provider’s stock valued at $41,918,000 after purchasing an additional 1,753,407 shares during the period. CenterBook Partners LP increased its stake in shares of Clear Channel Outdoor by 183.3% in the third quarter. CenterBook Partners LP now owns 2,777,537 shares of the business services provider’s stock valued at $4,389,000 after buying an additional 1,797,154 shares during the period. Shenkman Capital Management Inc. increased its stake in shares of Clear Channel Outdoor by 70.9% in the third quarter. Shenkman Capital Management Inc. now owns 1,704,589 shares of the business services provider’s stock valued at $2,693,000 after buying an additional 707,389 shares during the period. Carronade Capital Management LP bought a new stake in shares of Clear Channel Outdoor during the 3rd quarter valued at about $1,580,000. Finally, Requisite Capital Management LLC boosted its position in shares of Clear Channel Outdoor by 100.0% during the 4th quarter. Requisite Capital Management LLC now owns 400,000 shares of the business services provider’s stock valued at $728,000 after purchasing an additional 200,000 shares in the last quarter. Institutional investors and hedge funds own 85.52% of the company’s stock.
Clear Channel Outdoor Stock Performance
NYSE CCO traded down $0.03 during trading on Wednesday, hitting $1.48. The stock had a trading volume of 339,744 shares, compared to its average volume of 2,341,371. The stock has a market capitalization of $713.49 million, a price-to-earnings ratio of -2.31 and a beta of 2.88. The stock has a 50 day simple moving average of $1.65 and a 200 day simple moving average of $1.56. Clear Channel Outdoor Holdings, Inc. has a one year low of $0.99 and a one year high of $2.06.
Wall Street Analysts Forecast Growth
CCO has been the topic of several recent research reports. StockNews.com upgraded Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, February 16th. Morgan Stanley raised their target price on Clear Channel Outdoor from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. Finally, Barrington Research reissued an “outperform” rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a research report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Clear Channel Outdoor currently has an average rating of “Hold” and an average target price of $2.16.
Read Our Latest Stock Report on Clear Channel Outdoor
About Clear Channel Outdoor
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.
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