Assenagon Asset Management S.A. Has $474,000 Holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Assenagon Asset Management S.A. reduced its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 62.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 296,024 shares of the business services provider's stock after selling 494,024 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Clear Channel Outdoor worth $474,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of Clear Channel Outdoor by 63.3% in the 1st quarter. BNP Paribas Financial Markets now owns 212,246 shares of the business services provider's stock worth $350,000 after purchasing an additional 82,286 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Clear Channel Outdoor by 8.6% during the first quarter. Russell Investments Group Ltd. now owns 290,550 shares of the business services provider's stock valued at $479,000 after buying an additional 23,067 shares in the last quarter. Gamco Investors INC. ET AL grew its position in shares of Clear Channel Outdoor by 21.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider's stock worth $5,658,000 after acquiring an additional 610,500 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of Clear Channel Outdoor by 6.6% in the 1st 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Clear Channel Outdoor by 5.9% during the 1st 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. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on CCO. Barrington Research reiterated an "outperform" rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research note on Thursday. TD Cowen dropped their price objective on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a "buy" rating on the stock in a research note on Friday. Finally, Wells Fargo & Company downgraded Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $2.75 to $1.75 in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $2.16.

Clear Channel Outdoor Trading Down 2.8 %

CCO stock traded down $0.04 during trading hours on Monday, hitting $1.41. 1,421,952 shares of the stock traded hands, compared to its average volume of 1,956,274. The stock has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $1.52. The company has a market cap of $689.42 million, a P/E ratio of -4.86 and a beta of 3.08. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.09 and a one year high of $2.06.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its earnings results on Wednesday, August 7th. The business services provider reported ($0.06) EPS 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 analyst estimates of $563.75 million. Analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current year.

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.