Sentinel Dome Partners LLC Takes Position in Clear Channel Outdoor Holdings, Inc. $CCO

Sentinel Dome Partners LLC acquired a new stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,570,000 shares of the business services provider’s stock, valued at approximately $3,470,000. Clear Channel Outdoor accounts for approximately 2.4% of Sentinel Dome Partners LLC’s investment portfolio, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Clear Channel Outdoor by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock worth $234,000 after buying an additional 8,976 shares during the period. Millennium Management LLC raised its holdings in shares of Clear Channel Outdoor by 22.9% during the 1st quarter. Millennium Management LLC now owns 4,893,895 shares of the business services provider’s stock valued at $5,432,000 after buying an additional 912,632 shares during the period. JPMorgan Chase & Co. lifted its position in Clear Channel Outdoor by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,775,078 shares of the business services provider’s stock worth $7,927,000 after acquiring an additional 59,366 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Clear Channel Outdoor by 2.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 561,802 shares of the business services provider’s stock worth $657,000 after acquiring an additional 14,855 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Clear Channel Outdoor in the 2nd quarter worth approximately $587,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Insiders Place Their Bets

In other Clear Channel Outdoor news, Director Raymond T. 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 transaction of $6,002,160.00. Following the sale, the director owned 91,003 shares in the company, valued at $218,407.20. This represents a 96.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 26,239,967 shares of company stock valued at $62,975,921 over the last three months. 7.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen restated a “hold” rating and issued a $2.43 target price (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Wells Fargo & Company lifted their price target on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Friday, March 27th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Clear Channel Outdoor presently has an average rating of “Reduce” and an average target price of $2.29.

Clear Channel Outdoor Trading Down 0.2%

Clear Channel Outdoor stock opened at $2.40 on Friday. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $1.00 and a 52 week high of $2.43. The stock has a market cap of $1.22 billion, a P/E ratio of -13.36 and a beta of 1.96. The stock has a 50 day moving average of $2.39 and a 200-day moving average of $2.29.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $373.86 million for the quarter, compared to the consensus estimate of $348.71 million. As a group, equities analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.04 earnings per share for the current fiscal 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.