Clear Channel Outdoor Holdings, Inc. $CCO Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 21.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 789,198 shares of the business services provider’s stock after selling 215,021 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Clear Channel Outdoor were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Clear Channel Outdoor during the 2nd quarter valued at about $73,669,000. Anson Funds Management LP increased its holdings in shares of Clear Channel Outdoor by 8.8% in the fourth quarter. Anson Funds Management LP now owns 19,842,452 shares of the business services provider’s stock valued at $43,852,000 after purchasing an additional 1,604,125 shares during the period. Glazer Capital LLC purchased a new position in shares of Clear Channel Outdoor in the second quarter worth about $29,763,000. Gamco Investors INC. ET AL raised its stake in shares of Clear Channel Outdoor by 11.8% in the first quarter. Gamco Investors INC. ET AL now owns 9,085,775 shares of the business services provider’s stock worth $21,533,000 after purchasing an additional 959,400 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Clear Channel Outdoor by 3.9% during the fourth quarter. JPMorgan Chase & Co. now owns 6,998,595 shares of the business services provider’s stock worth $15,467,000 after purchasing an additional 260,716 shares during the period. Institutional investors and hedge funds own 85.52% of the company’s stock.

Insider Activity at Clear Channel Outdoor

In related news, Director Raymond White sold 2,500,900 shares of the firm’s stock in a transaction dated 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 sale, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Clear Channel Outdoor from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $2.29.

Clear Channel Outdoor Stock Performance

NYSE:CCO opened at $2.38 on Friday. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.27 and a one year high of $2.44. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -11.36 and a beta of 1.95. The firm’s fifty day moving average is $2.39 and its two-hundred day moving average is $2.39.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings results on Wednesday, August 5th. The business services provider reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $438.04 million for the quarter, compared to analyst estimates of $423.62 million. As a group, equities research analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Clear Channel Outdoor Company 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.