Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 23.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,250,034 shares of the business services provider's stock after selling 1,896,967 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.28% of Clear Channel Outdoor worth $10,000,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CCO. CarsonAllaria Wealth Management Ltd. acquired a new stake in Clear Channel Outdoor in the third quarter valued at approximately $34,000. Ground Swell Capital LLC acquired a new stake in Clear Channel Outdoor in the third quarter valued at approximately $34,000. Stratos Wealth Advisors LLC acquired a new stake in Clear Channel Outdoor in the third quarter valued at approximately $40,000. Point72 DIFC Ltd acquired a new stake in Clear Channel Outdoor in the second quarter valued at approximately $55,000. Finally, Intech Investment Management LLC acquired a new stake in Clear Channel Outdoor in the third quarter valued at approximately $107,000. Institutional investors and hedge funds own 85.52% of the company's stock.

Clear Channel Outdoor Stock Performance

Clear Channel Outdoor stock remained flat at $1.55 during mid-day trading on Tuesday. 984,345 shares of the company's stock traded hands, compared to its average volume of 1,891,928. The stock has a market cap of $758.07 million, a PE ratio of -5.34 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 has a 50-day moving average of $1.56 and a two-hundred day moving average of $1.53.

Analysts Set New Price Targets

Several brokerages recently weighed in on CCO. Wells Fargo & Company cut shares of Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $2.75 to $1.75 in a report on Thursday, September 19th. Barrington Research reaffirmed an "outperform" rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a report on Thursday, October 31st. Finally, TD Cowen reduced their target price on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a "buy" rating on the stock in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Clear Channel Outdoor presently has an average rating of "Hold" and a consensus price target of $2.16.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 250,000 shares of the stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $1.45 per share, for a total transaction of $362,500.00. Following the completion of the transaction, the insider now owns 52,182,534 shares in the company, valued at approximately $75,664,674.30. The trade was a 0.48 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 7.20% of the stock is currently owned by insiders.

Clear Channel Outdoor Profile

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.