CCG Wealth Management LLC Buys New Stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

CCG Wealth Management LLC bought a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,634 shares of the business services provider’s stock, valued at approximately $46,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new position in Clear Channel Outdoor in the fourth quarter valued at $68,000. SG Americas Securities LLC increased its stake in shares of Clear Channel Outdoor by 41.4% during the fourth quarter. SG Americas Securities LLC now owns 202,741 shares of the business services provider’s stock worth $369,000 after purchasing an additional 59,324 shares in the last quarter. Requisite Capital Management LLC increased its stake in shares of Clear Channel Outdoor by 100.0% during the fourth quarter. Requisite Capital Management LLC now owns 400,000 shares of the business services provider’s stock worth $728,000 after purchasing an additional 200,000 shares in the last quarter. Carronade Capital Management LP purchased a new stake in shares of Clear Channel Outdoor during the third quarter worth about $1,580,000. Finally, Readystate Asset Management LP grew its stake in Clear Channel Outdoor by 64.2% during the 4th quarter. Readystate Asset Management LP now owns 957,401 shares of the business services provider’s stock valued at $1,742,000 after acquiring an additional 374,347 shares in the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Clear Channel Outdoor Stock Up 1.4 %

NYSE:CCO traded up $0.02 on Monday, hitting $1.43. The stock had a trading volume of 1,238,649 shares, compared to its average volume of 2,130,639. The stock has a market cap of $698.86 million, a price-to-earnings ratio of -1.86 and a beta of 3.09. The company has a fifty day moving average price of $1.45 and a two-hundred day moving average price of $1.61. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $1.04 and a 1-year high of $2.06.

Clear Channel Outdoor (NYSE:CCO) last posted its earnings results on Thursday, May 9th. The business services provider reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01. The firm had revenue of $481.75 million during the quarter, compared to analyst estimates of $480.69 million. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. As a group, analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.16.

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.