Abrams Capital Management L.P. continued to hold its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,354,390 shares of the business services provider’s stock at the end of the 2nd quarter. Clear Channel Outdoor Holdings makes up approximately 0.6% of Abrams Capital Management L.P.’s portfolio, making the stock its 18th biggest position. Abrams Capital Management L.P. owned about 0.93% of Clear Channel Outdoor Holdings worth $16,269,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Nationwide Fund Advisors bought a new stake in Clear Channel Outdoor Holdings in the 2nd quarter valued at about $100,000. Los Angeles Capital Management & Equity Research Inc. increased its position in Clear Channel Outdoor Holdings by 16.9% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,765 shares of the business services provider’s stock valued at $126,000 after buying an additional 3,000 shares in the last quarter. Laurion Capital Management LP bought a new stake in Clear Channel Outdoor Holdings in the 1st quarter valued at about $215,000. Rhumbline Advisers increased its position in Clear Channel Outdoor Holdings by 20.4% in the 2nd quarter. Rhumbline Advisers now owns 44,703 shares of the business services provider’s stock valued at $217,000 after buying an additional 7,574 shares in the last quarter. Finally, Pacific Alternative Asset Management Company LLC increased its position in Clear Channel Outdoor Holdings by 10.5% in the 2nd quarter. Pacific Alternative Asset Management Company LLC now owns 57,585 shares of the business services provider’s stock valued at $279,000 after buying an additional 5,485 shares in the last quarter. 9.64% of the stock is owned by institutional investors and hedge funds.

Clear Channel Outdoor Holdings (NYSE:CCO) last issued its quarterly earnings data on Thursday, August 3rd. The business services provider reported ($0.01) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Clear Channel Outdoor Holdings had a net margin of 1.40% and a negative return on equity of 3.35%. The business had revenue of $672.32 million during the quarter, compared to analyst estimates of $672.22 million.

A number of analysts recently commented on the company. ValuEngine raised Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research raised Clear Channel Outdoor Holdings from a “hold” rating to a “strong-buy” rating and set a $6.00 target price for the company in a research report on Friday, July 28th. Finally, BidaskClub raised Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $7.81.

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About Clear Channel Outdoor Holdings

Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. Its segments include Americas outdoor advertising (Americas) and International outdoor advertising (International).

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Institutional Ownership by Quarter for Clear Channel Outdoor Holdings (NYSE:CCO)

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