Legal & General Group Plc Purchases Shares of 248,742 Clear Channel Outdoor Holdings, Inc. $CCO

Legal & General Group Plc purchased a new position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 248,742 shares of the business services provider’s stock, valued at approximately $602,000.

A number of other large investors have also made changes to their positions in the stock. Captrust Financial Advisors bought a new stake in shares of Clear Channel Outdoor in the fourth quarter valued at about $27,000. EntryPoint Capital LLC bought a new position in Clear Channel Outdoor during the fourth quarter valued at about $28,000. Quantbot Technologies LP bought a new position in Clear Channel Outdoor during the second quarter valued at about $33,000. CTC Alternative Strategies Ltd. acquired a new position in Clear Channel Outdoor in the 1st quarter valued at approximately $32,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Clear Channel Outdoor in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

NYSE:CCO opened at $2.38 on Wednesday. The company has a 50-day moving average of $2.39 and a 200-day moving average of $2.39. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -11.36 and a beta of 1.95. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $1.24 and a 52 week high of $2.44.

Clear Channel Outdoor (NYSE:CCO) last posted its earnings results on Wednesday, August 5th. The business services provider reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $438.04 million during the quarter, compared to the consensus estimate of $423.62 million. Sell-side analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.05 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings raised Clear Channel Outdoor from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $2.29.

Insider Buying and Selling at Clear Channel Outdoor

In other news, Director Raymond White sold 2,500,900 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $2.40, for a total value of $6,002,160.00. Following the sale, the director directly owned 91,003 shares in the company, valued at approximately $218,407.20. This represents a 96.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 7.70% of the company’s stock.

Clear Channel Outdoor Company 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.