Assenagon Asset Management S.A. Purchases Shares of 790,048 Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Assenagon Asset Management S.A. bought a new position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 790,048 shares of the business services provider's stock, valued at approximately $1,114,000. Assenagon Asset Management S.A. owned about 0.16% of Clear Channel Outdoor as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in Clear Channel Outdoor by 47.3% in the second quarter. SG Americas Securities LLC now owns 291,755 shares of the business services provider's stock valued at $411,000 after acquiring an additional 93,686 shares in the last quarter. Apollo Management Holdings L.P. bought a new stake in Clear Channel Outdoor in the first quarter valued at $426,000. Price T Rowe Associates Inc. MD boosted its holdings in Clear Channel Outdoor by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider's stock valued at $534,000 after acquiring an additional 17,901 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Clear Channel Outdoor by 6.6% in the first quarter. Gabelli Funds LLC now owns 2,275,000 shares of the business services provider's stock valued at $3,754,000 after acquiring an additional 140,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Clear Channel Outdoor by 21.7% in the first quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider's stock valued at $5,658,000 after acquiring an additional 610,500 shares in the last quarter. Institutional investors own 85.52% of the company's stock.

Insider Transactions at Clear Channel Outdoor

In other news, major shareholder Pacific Investment Management sold 46,959 shares of Clear Channel Outdoor stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $1.69, for a total value of $79,360.71. Following the completion of the transaction, the insider now owns 104,812,998 shares of the company's stock, valued at approximately $177,133,966.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.53% of the stock is owned by insiders.

Clear Channel Outdoor Stock Up 6.5 %

Shares of CCO stock traded up $0.09 during mid-day trading on Friday, reaching $1.48. 2,054,480 shares of the company's stock traded hands, compared to its average volume of 2,102,002. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $1.04 and a 12 month high of $2.06. The company has a market cap of $723.29 million, a P/E ratio of -1.91 and a beta of 3.09. The company's 50-day moving average price is $1.51 and its 200-day moving average price is $1.56.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an "outperform" rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Clear Channel Outdoor presently has an average rating of "Hold" and a consensus price target of $2.16.

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.