Clear Channel Outdoor Holdings, Inc. $CCO Stock Holdings Increased by Occam Crest Management LP

Occam Crest Management LP grew its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 423.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,404,300 shares of the business services provider’s stock after acquiring an additional 2,754,300 shares during the period. Clear Channel Outdoor comprises 5.2% of Occam Crest Management LP’s holdings, making the stock its 7th biggest position. Occam Crest Management LP owned about 0.68% of Clear Channel Outdoor worth $7,524,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CCO. Anson Funds Management LP raised its position in Clear Channel Outdoor by 0.5% during the third quarter. Anson Funds Management LP now owns 18,238,327 shares of the business services provider’s stock worth $28,817,000 after acquiring an additional 84,203 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Clear Channel Outdoor by 10.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 8,126,375 shares of the business services provider’s stock valued at $17,959,000 after buying an additional 776,500 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Clear Channel Outdoor by 3.9% in the fourth quarter. JPMorgan Chase & Co. now owns 6,998,595 shares of the business services provider’s stock valued at $15,467,000 after buying an additional 260,716 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Clear Channel Outdoor by 12.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,389,630 shares of the business services provider’s stock valued at $11,911,000 after buying an additional 582,007 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Clear Channel Outdoor by 22.9% in the first quarter. Millennium Management LLC now owns 4,893,895 shares of the business services provider’s stock valued at $5,432,000 after buying an additional 912,632 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Clear Channel Outdoor Trading Down 0.6%

Clear Channel Outdoor stock opened at $2.40 on Tuesday. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $1.00 and a 12-month high of $2.43. The stock has a market cap of $1.22 billion, a P/E ratio of -13.31 and a beta of 1.96. The company has a 50-day moving average price of $2.39 and a 200 day moving average price of $2.28.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $373.86 million for the quarter, compared to analysts’ expectations of $348.71 million. As a group, analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CCO shares. Wells Fargo & Company increased their target price on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a research report on Friday, February 27th. TD Cowen reiterated a “hold” rating and issued a $2.43 target price (down from $2.50) on shares of Clear Channel Outdoor in a research report on Monday, April 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Friday, March 27th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $2.29.

Insiders Place Their Bets

In other Clear Channel Outdoor news, Director Raymond T. White sold 23,435,796 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $2.40, for a total transaction of $56,245,910.40. Following the completion of the transaction, the director owned 187,371 shares of the company’s stock, valued at $449,690.40. This trade represents a 99.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.20% of the stock is currently owned by company insiders.

Clear Channel Outdoor Profile

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.