Clear Channel Outdoor (NYSE:CCO) Rating Lowered to "Market Perform" at Barrington Research

Clear Channel Outdoor (NYSE:CCO - Get Free Report) was downgraded by Barrington Research from an "outperform" rating to a "market perform" rating in a report issued on Wednesday,Finviz reports.

Clear Channel Outdoor Stock Performance

Shares of CCO opened at $0.99 on Wednesday. Clear Channel Outdoor has a 1 year low of $0.81 and a 1 year high of $1.88. The firm has a fifty day moving average of $1.14 and a 200-day moving average of $1.37. The company has a market cap of $482.71 million, a price-to-earnings ratio of -3.40 and a beta of 2.72.

Insider Activity at Clear Channel Outdoor

In other news, major shareholder Arturo R. Moreno acquired 980,644 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was acquired at an average price of $0.93 per share, for a total transaction of $911,998.92. Following the completion of the acquisition, the insider now directly owns 61,210,458 shares in the company, valued at $56,925,725.94. This represents a 1.63 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders purchased 7,093,366 shares of company stock worth $6,805,848 in the last 90 days. Corporate insiders own 1.53% of the company's stock.

Institutional Trading of Clear Channel Outdoor

A number of large investors have recently added to or reduced their stakes in the business. Diameter Capital Partners LP lifted its holdings in shares of Clear Channel Outdoor by 2,210.5% in the fourth quarter. Diameter Capital Partners LP now owns 10,104,095 shares of the business services provider's stock valued at $13,843,000 after purchasing an additional 9,666,788 shares in the last quarter. Shenkman Capital Management Inc. lifted its stake in shares of Clear Channel Outdoor by 34.0% in the 4th quarter. Shenkman Capital Management Inc. now owns 2,954,589 shares of the business services provider's stock valued at $4,048,000 after purchasing an additional 750,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Clear Channel Outdoor by 9.0% during the 4th quarter. JPMorgan Chase & Co. now owns 7,371,308 shares of the business services provider's stock valued at $10,099,000 after acquiring an additional 610,110 shares during the last quarter. State of Wyoming raised its position in shares of Clear Channel Outdoor by 39.3% in the fourth quarter. State of Wyoming now owns 1,594,464 shares of the business services provider's stock valued at $2,184,000 after purchasing an additional 450,000 shares during the period. Finally, Net Worth Advisory Group acquired a new position in Clear Channel Outdoor during the 1st quarter worth $471,000. 85.52% of the stock is currently owned by institutional investors.

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.

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