Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Purchases $2,350,000.00 in Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) major shareholder Arturo R. Moreno acquired 2,500,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average price of $0.94 per share, with a total value of $2,350,000.00. Following the transaction, the insider now directly owns 57,432,534 shares in the company, valued at $53,986,581.96. The trade was a 4.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Clear Channel Outdoor Price Performance

Shares of Clear Channel Outdoor stock traded up $0.01 on Friday, hitting $1.03. 1,264,871 shares of the company's stock traded hands, compared to its average volume of 1,655,079. The firm's 50-day moving average price is $1.20 and its two-hundred day moving average price is $1.40. The stock has a market capitalization of $502.31 million, a PE ratio of -3.53 and a beta of 2.72. Clear Channel Outdoor Holdings, Inc. has a one year low of $0.81 and a one year high of $1.88.

Institutional Investors Weigh In On Clear Channel Outdoor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCO. Graham Capital Management L.P. acquired a new position in shares of Clear Channel Outdoor during the 4th quarter worth about $36,000. Cibc World Markets Corp bought a new stake in Clear Channel Outdoor in the fourth quarter valued at approximately $45,000. KLP Kapitalforvaltning AS bought a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at $53,000. Jacksonville Wealth Management LLC acquired a new stake in Clear Channel Outdoor during the 4th quarter worth $62,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Clear Channel Outdoor during the 4th quarter valued at about $92,000. Institutional investors own 85.52% of the company's stock.

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Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an "outperform" rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a report on Monday, February 24th.

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.