Whitebox Advisors LLC Buys 185,700 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Whitebox Advisors LLC lifted its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 11.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,807,486 shares of the business services provider’s stock after purchasing an additional 185,700 shares during the period. Whitebox Advisors LLC’s holdings in Clear Channel Outdoor were worth $2,892,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Clear Channel Outdoor in the third quarter worth $65,000. Crewe Advisors LLC purchased a new position in shares of Clear Channel Outdoor in the 3rd quarter worth approximately $32,000. Algert Global LLC boosted its stake in Clear Channel Outdoor by 77.8% during the third quarter. Algert Global LLC now owns 642,620 shares of the business services provider’s stock worth $1,028,000 after buying an additional 281,210 shares during the period. Cerity Partners LLC purchased a new stake in shares of Clear Channel Outdoor in the third quarter valued at $1,730,000. Finally, Intech Investment Management LLC bought a new stake in shares of Clear Channel Outdoor in the 3rd quarter worth about $107,000. Institutional investors own 85.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CCO. TD Cowen cut their price target on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company lowered Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $2.75 to $1.75 in a research report on Thursday, September 19th. Finally, Barrington Research reiterated an “outperform” rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Clear Channel Outdoor has an average rating of “Hold” and an average price target of $2.16.

Clear Channel Outdoor Price Performance

Shares of CCO opened at $1.55 on Friday. The firm has a market capitalization of $758.07 million, a price-to-earnings ratio of -5.34 and a beta of 3.05. The company has a 50-day moving average of $1.56 and a 200 day moving average of $1.53. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $1.29 and a 1-year high of $2.06.

Insider Activity

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 250,000 shares of Clear Channel Outdoor stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price of $1.45 per share, with a total value of $362,500.00. Following the completion of the purchase, the insider now directly owns 52,182,534 shares of the company’s stock, valued at approximately $75,664,674.30. This represents a 0.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.53% of the company’s stock.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.