Permanent Capital Management LP Takes Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Permanent Capital Management LP acquired a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 348,234 shares of the business services provider's stock, valued at approximately $477,000. Clear Channel Outdoor accounts for about 0.1% of Permanent Capital Management LP's holdings, making the stock its 29th largest holding. Permanent Capital Management LP owned 0.07% of Clear Channel Outdoor as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CCO. JPMorgan Chase & Co. boosted its holdings in shares of Clear Channel Outdoor by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider's stock worth $10,818,000 after purchasing an additional 54,566 shares during the last quarter. Whitebox Advisors LLC grew its holdings in Clear Channel Outdoor by 11.5% in the 3rd quarter. Whitebox Advisors LLC now owns 1,807,486 shares of the business services provider's stock valued at $2,892,000 after buying an additional 185,700 shares during the period. Jane Street Group LLC lifted its holdings in shares of Clear Channel Outdoor by 56.7% during the 3rd quarter. Jane Street Group LLC now owns 1,116,893 shares of the business services provider's stock worth $1,787,000 after acquiring an additional 404,082 shares during the period. Cerity Partners LLC acquired a new stake in shares of Clear Channel Outdoor in the third quarter worth approximately $1,730,000. Finally, Victory Capital Management Inc. increased its position in Clear Channel Outdoor by 5.4% during the third quarter. Victory Capital Management Inc. now owns 759,013 shares of the business services provider's stock worth $1,214,000 after purchasing an additional 38,913 shares during the last quarter. Institutional investors and hedge funds own 85.52% of the company's stock.

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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, February 24th.

Clear Channel Outdoor Stock Performance

CCO traded down $0.04 on Wednesday, reaching $1.19. 1,880,812 shares of the company's stock were exchanged, compared to its average volume of 1,278,698. The company's 50 day moving average is $1.38 and its 200-day moving average is $1.49. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $1.18 and a twelve month high of $1.88. The company has a market cap of $580.72 million, a price-to-earnings ratio of -4.09 and a beta of 3.05.

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.