1,621,786 Shares in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Acquired by Whitebox Advisors LLC

Whitebox Advisors LLC acquired a new position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,621,786 shares of the business services provider's stock, valued at approximately $2,287,000. Whitebox Advisors LLC owned 0.33% of Clear Channel Outdoor as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Clear Channel Outdoor by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider's stock worth $534,000 after purchasing an additional 17,901 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Clear Channel Outdoor by 28.4% in the second quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider's stock worth $114,000 after purchasing an additional 17,957 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Clear Channel Outdoor by 8.6% in the first quarter. Russell Investments Group Ltd. now owns 290,550 shares of the business services provider's stock worth $479,000 after buying an additional 23,067 shares in the last quarter. CCG Wealth Management LLC bought a new position in Clear Channel Outdoor during the first quarter valued at approximately $46,000. Finally, Quadrature Capital Ltd purchased a new position in Clear Channel Outdoor during the 4th quarter valued at approximately $68,000. Hedge funds and other institutional investors own 85.52% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CCO. Wells Fargo & Company cut Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $2.75 to $1.75 in a report on Thursday, September 19th. Barrington Research reaffirmed an "outperform" rating and set a $2.50 price target on shares of Clear Channel Outdoor in a research note on Monday, August 12th.

Clear Channel Outdoor Stock Performance

CCO stock traded down $0.06 during midday trading on Wednesday, reaching $1.58. 1,117,074 shares of the company traded hands, compared to its average volume of 2,054,226. The firm has a market capitalization of $772.16 million, a price-to-earnings ratio of -2.12 and a beta of 3.07. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $1.04 and a 52-week high of $2.06. The business has a 50 day moving average of $1.55 and a 200-day moving average of $1.53.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $558.54 million during the quarter, compared to the consensus estimate of $563.75 million. Research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current year.

Insider Activity

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

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.