Clear Channel Outdoor Holdings, Inc. $CCO Shares Bought by Groupe la Francaise

by · The Cerbat Gem

Groupe la Francaise grew its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Free Report) by 55.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,971,103 shares of the business services provider’s stock after buying an additional 699,163 shares during the quarter. Groupe la Francaise owned 0.39% of Clear Channel Outdoor worth $4,770,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Captrust Financial Advisors acquired a new stake in Clear Channel Outdoor in the fourth quarter valued at $27,000. EntryPoint Capital LLC acquired a new position in Clear Channel Outdoor during the 4th quarter worth $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Clear Channel Outdoor during the 4th quarter worth $31,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Clear Channel Outdoor in the 1st quarter worth about $32,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Clear Channel Outdoor in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Clear Channel Outdoor from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $2.29.

Read Our Latest Stock Report on Clear Channel Outdoor

Insiders Place Their Bets

In other Clear Channel Outdoor news, Director Raymond White sold 2,500,900 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $2.40, for a total value of $6,002,160.00. Following the transaction, the director owned 91,003 shares of the company’s stock, valued at $218,407.20. This trade represents a 96.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 7.20% of the stock is currently owned by company insiders.

Clear Channel Outdoor Price Performance

CCO stock opened at $2.38 on Tuesday. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $1.24 and a 1-year high of $2.44. The firm has a fifty day moving average price of $2.40 and a two-hundred day moving average price of $2.39. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -11.33 and a beta of 1.95.

Clear Channel Outdoor (NYSE:CCO – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $438.04 million during the quarter, compared to the consensus estimate of $423.62 million. As a group, analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.05 EPS for the current fiscal year.

About Clear Channel Outdoor

(Free Report)

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.

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