Squarepoint Ops LLC Takes Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Squarepoint Ops LLC acquired a new stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 437,515 shares of the business services provider's stock, valued at approximately $617,000. Squarepoint Ops LLC owned about 0.09% of Clear Channel Outdoor as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Gamco Investors INC. ET AL increased 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 worth $5,658,000 after purchasing an additional 610,500 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Clear Channel Outdoor by 25.9% in the 2nd quarter. Gabelli Funds LLC now owns 2,865,000 shares of the business services provider's stock valued at $4,040,000 after acquiring an additional 590,000 shares in the last quarter. Whitebox Advisors LLC bought a new stake in shares of Clear Channel Outdoor in the 2nd quarter valued at $2,287,000. Bank of New York Mellon Corp lifted its position in shares of Clear Channel Outdoor by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,406,519 shares of the business services provider's stock valued at $1,983,000 after acquiring an additional 49,714 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Clear Channel Outdoor during the second quarter worth $1,114,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Clear Channel Outdoor Stock Performance

CCO stock remained flat at $1.53 during midday trading on Wednesday. 665,685 shares of the company's stock were exchanged, compared to its average volume of 2,021,558. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $2.06. The firm has a market capitalization of $745.28 million, a P/E ratio of -1.97 and a beta of 3.07. The firm has a 50 day simple moving average of $1.52 and a two-hundred day simple moving average of $1.52.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, major shareholder Pacific Investment Management sold 46,959 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $1.69, for a total value of $79,360.71. Following the completion of the sale, the insider now owns 104,812,998 shares in the company, valued at $177,133,966.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.53% of the stock is currently owned by corporate insiders.

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.