282,225 Shares in Clear Channel Outdoor Holdings, Inc. $CCO Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC purchased a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 282,225 shares of the business services provider’s stock, valued at approximately $624,000.

A number of other large investors have also added to or reduced their stakes in the company. Jefferies Financial Group Inc. raised its position in Clear Channel Outdoor by 110.2% during the fourth quarter. Jefferies Financial Group Inc. now owns 60,106 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 31,506 shares in the last quarter. GSA Capital Partners LLP raised its position in Clear Channel Outdoor by 105.5% during the fourth quarter. GSA Capital Partners LLP now owns 614,710 shares of the business services provider’s stock valued at $1,359,000 after purchasing an additional 315,560 shares in the last quarter. Gamco Investors INC. ET AL raised its position in Clear Channel Outdoor by 10.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 8,126,375 shares of the business services provider’s stock valued at $17,959,000 after purchasing an additional 776,500 shares in the last quarter. Gabelli Funds LLC raised its position in Clear Channel Outdoor by 5.2% during the fourth quarter. Gabelli Funds LLC now owns 3,419,000 shares of the business services provider’s stock valued at $7,556,000 after purchasing an additional 169,000 shares in the last quarter. Finally, Abacus Wealth Partners LLC purchased a new stake in Clear Channel Outdoor during the fourth quarter valued at about $111,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Analyst Ratings Changes

CCO has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Friday, March 27th. Wells Fargo & Company raised their price target on Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Finally, TD Cowen restated a “hold” rating and set a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a research report on Monday, April 6th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $2.29.

Clear Channel Outdoor Trading Up 0.2%

Shares of NYSE:CCO opened at $2.40 on Thursday. The stock’s 50-day moving average price is $2.38 and its 200-day moving average price is $2.23. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $1.00 and a 12-month high of $2.43. The stock has a market capitalization of $1.22 billion, a P/E ratio of -13.31 and a beta of 1.99.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $373.86 million during the quarter, compared to analysts’ expectations of $348.71 million. As a group, research analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.04 EPS for the current year.

Clear Channel Outdoor 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.