Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Stake Trimmed by Bardin Hill Management Partners LP

Bardin Hill Management Partners LP lessened its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,652,432 shares of the business services provider’s stock after selling 107,383 shares during the period. Clear Channel Outdoor comprises 2.0% of Bardin Hill Management Partners LP’s investment portfolio, making the stock its 17th largest holding. Bardin Hill Management Partners LP owned about 0.54% of Clear Channel Outdoor worth $4,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CCO. Millennium Management LLC raised its holdings in shares of Clear Channel Outdoor by 44.0% during the second quarter. Millennium Management LLC now owns 7,332,360 shares of the business services provider’s stock valued at $10,339,000 after acquiring an additional 2,242,205 shares during the period. Whitebox Advisors LLC acquired a new stake in Clear Channel Outdoor during the 2nd quarter valued at $2,287,000. Cerity Partners LLC purchased a new stake in shares of Clear Channel Outdoor in the third quarter valued at $1,730,000. Assenagon Asset Management S.A. acquired a new stake in shares of Clear Channel Outdoor in the second quarter worth $1,114,000. Finally, Gabelli Funds LLC grew its holdings in shares of Clear Channel Outdoor by 25.9% during the second quarter. Gabelli Funds LLC now owns 2,865,000 shares of the business services provider’s stock valued at $4,040,000 after buying an additional 590,000 shares in the last quarter. 85.52% of the stock is owned by hedge funds and other institutional investors.

Clear Channel Outdoor Price Performance

CCO opened at $1.51 on Monday. The company has a market capitalization of $738.51 million, a PE ratio of -5.21 and a beta of 3.08. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $1.29 and a fifty-two week high of $2.06. The business has a 50-day moving average of $1.56 and a 200-day moving average of $1.53.

Insider Buying and Selling

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 250,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $1.45 per share, with a total value of $362,500.00. Following the completion of the transaction, the insider now directly owns 52,182,534 shares of the company’s stock, valued at approximately $75,664,674.30. The trade was a 0.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CCO has been the subject of a number of research reports. Barrington Research restated an “outperform” rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a research report on Thursday, October 31st. TD Cowen decreased their price target on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Wells Fargo & Company lowered shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $2.75 to $1.75 in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.