New York Life Investment Management LLC Purchases 645,971 Shares of Clear Channel Outdoor Holdings, Inc. $CCO

New York Life Investment Management LLC lifted its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 36.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,421,788 shares of the business services provider’s stock after acquiring an additional 645,971 shares during the quarter. New York Life Investment Management LLC’s holdings in Clear Channel Outdoor were worth $5,691,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CCO. Quantbot Technologies LP purchased a new stake in Clear Channel Outdoor in the 2nd quarter worth about $33,000. CTC Alternative Strategies Ltd. purchased a new position in shares of Clear Channel Outdoor during the first quarter valued at approximately $32,000. Transmarket Holdings LP purchased a new position in shares of Clear Channel Outdoor during the first quarter valued at approximately $36,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Clear Channel Outdoor during the second quarter valued at approximately $39,000. Finally, Rangeley Capital LLC bought a new position in shares of Clear Channel Outdoor during the first quarter valued at approximately $44,000. 85.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Clear Channel Outdoor to a “hold” rating in a report on Saturday, October 17th. Weiss Ratings upgraded Clear Channel Outdoor from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 9th. Three equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.43.

Clear Channel Outdoor Trading Up 0.4%

NYSE CCO opened at $2.43 on Friday. The company’s 50-day moving average price is $2.41 and its 200-day moving average price is $2.38. The stock has a market cap of $1.24 billion, a PE ratio of -11.57 and a beta of 2.01. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $1.36 and a 12 month high of $2.46.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc. is an out-of-home advertising company that connects advertisers with audiences through displays in public spaces. Its inventory includes traditional and digital billboards, airport displays, and street-level advertising formats. The company’s U.S. operations serve advertisers across a range of markets, while its airport business places ads in terminals and other airport locations. Digital displays allow the company to offer campaigns that can be updated and scheduled across its network.