Insider Buying: Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Acquires 980,644 Shares of Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) major shareholder Arturo R. Moreno bought 980,644 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were acquired at an average price of $0.93 per share, for a total transaction of $911,998.92. Following the completion of the transaction, the insider now directly owns 61,210,458 shares in the company, valued at approximately $56,925,725.94. This represents a 1.63 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Stock Performance

Shares of NYSE CCO traded up $0.01 during mid-day trading on Wednesday, reaching $0.99. 948,142 shares of the company's stock were exchanged, compared to its average volume of 1,670,011. The company's 50-day moving average is $1.14 and its 200-day moving average is $1.37. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $0.81 and a 52-week high of $1.88. The firm has a market capitalization of $485.50 million, a price-to-earnings ratio of -3.42 and a beta of 2.72.

Wall Street Analysts Forecast Growth

Separately, Barrington Research cut Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research report on Wednesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its stake in Clear Channel Outdoor by 56.7% in the third quarter. Jane Street Group LLC now owns 1,116,893 shares of the business services provider's stock worth $1,787,000 after acquiring an additional 404,082 shares during the last quarter. Barclays PLC raised its position in Clear Channel Outdoor by 271.2% in the third quarter. Barclays PLC now owns 520,663 shares of the business services provider's stock worth $833,000 after acquiring an additional 380,408 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Clear Channel Outdoor by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider's stock valued at $10,818,000 after buying an additional 54,566 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Clear Channel Outdoor by 31.2% during the 4th quarter. SG Americas Securities LLC now owns 294,947 shares of the business services provider's stock worth $404,000 after buying an additional 70,196 shares during the last quarter. Finally, Inspire Investing LLC raised its position in shares of Clear Channel Outdoor by 13.6% during the 4th quarter. Inspire Investing LLC now owns 291,121 shares of the business services provider's stock worth $399,000 after purchasing an additional 34,759 shares during the last quarter. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Clear Channel Outdoor Company 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.