500,000 Shares in Clear Channel Outdoor Holdings, Inc. $CCO Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the first quarter, HoldingsChannel reports. The fund bought 500,000 shares of the business services provider’s stock, valued at approximately $1,185,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ieq Capital LLC grew its holdings in shares of Clear Channel Outdoor by 8.3% in the 4th quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider’s stock valued at $130,000 after acquiring an additional 4,493 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Clear Channel Outdoor by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock worth $234,000 after acquiring an additional 8,976 shares in the last quarter. SG Americas Securities LLC boosted its position in Clear Channel Outdoor by 61.8% during the fourth quarter. SG Americas Securities LLC now owns 23,618 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 9,019 shares during the last quarter. Captrust Financial Advisors acquired a new position in Clear Channel Outdoor during the fourth quarter valued at approximately $27,000. Finally, EntryPoint Capital LLC bought a new position in Clear Channel Outdoor in the fourth quarter valued at approximately $28,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CCO. TD Cowen reaffirmed a “hold” rating and set a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a research report on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Wednesday, June 24th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Clear Channel Outdoor currently has a consensus 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 2,500,900 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $2.40, for a total transaction of $6,002,160.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 26,239,967 shares of company stock valued at $62,975,921. 7.20% of the stock is currently owned by corporate insiders.

Clear Channel Outdoor Stock Up 0.2%

NYSE:CCO opened at $2.42 on Tuesday. The stock’s 50 day moving average price is $2.41 and its two-hundred day moving average price is $2.34. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -13.42 and a beta of 1.95. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $1.00 and a 12-month high of $2.43.

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 analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $373.86 million during the quarter, compared to the consensus estimate of $348.71 million. Equities research analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.06 EPS for the current year.

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.