Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Holdings Lifted by Barclays PLC

Barclays PLC boosted its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 271.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 520,663 shares of the business services provider's stock after purchasing an additional 380,408 shares during the period. Barclays PLC owned approximately 0.11% of Clear Channel Outdoor worth $833,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in Clear Channel Outdoor during the 3rd quarter worth approximately $32,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Clear Channel Outdoor during the third quarter valued at approximately $34,000. Ground Swell Capital LLC acquired a new position in shares of Clear Channel Outdoor during the third quarter worth $34,000. Stratos Wealth Advisors LLC purchased a new position in shares of Clear Channel Outdoor in the third quarter valued at $40,000. Finally, Point72 DIFC Ltd acquired a new stake in Clear Channel Outdoor during the 2nd quarter valued at $55,000. Institutional investors and hedge funds own 85.52% of the company's stock.

Clear Channel Outdoor Stock Performance

Shares of CCO stock traded down $0.03 during trading hours on Wednesday, hitting $1.37. 970,535 shares of the company were exchanged, compared to its average volume of 1,877,996. The stock has a market capitalization of $670.04 million, a price-to-earnings ratio of -4.72 and a beta of 3.05. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.29 and a one year high of $2.06. The business's 50-day simple moving average is $1.52 and its two-hundred day simple moving average is $1.53.

Insiders Place Their Bets

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 250,000 shares of the company's stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $1.45 per share, with a total value of $362,500.00. Following the completion of the acquisition, the insider now owns 52,182,534 shares of the company's stock, valued at approximately $75,664,674.30. This trade represents a 0.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CCO shares. Wells Fargo & Company lowered shares of Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $2.75 to $1.75 in a report on Thursday, September 19th. TD Cowen reduced their price target on Clear Channel Outdoor from $2.60 to $2.40 and set a "buy" rating for the company in a report on Friday, November 1st. Finally, Barrington Research restated an "outperform" rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $2.16.

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.