Clear Channel Outdoor Holdings, Inc. $CCO is Occam Crest Management LP’s 7th Largest Position

Occam Crest Management LP grew its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 423.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,404,300 shares of the business services provider’s stock after purchasing an additional 2,754,300 shares during the quarter. Clear Channel Outdoor makes up 5.2% of Occam Crest Management LP’s holdings, making the stock its 7th biggest holding. Occam Crest Management LP’s holdings in Clear Channel Outdoor were worth $7,524,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in CCO. EntryPoint Capital LLC acquired a new stake in Clear Channel Outdoor during the fourth quarter worth approximately $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Clear Channel Outdoor in the 4th quarter valued at $31,000. Sargent Investment Group LLC acquired a new position in Clear Channel Outdoor in the 4th quarter valued at $33,000. Zacks Investment Management acquired a new position in Clear Channel Outdoor in the 3rd quarter valued at $36,000. Finally, Advisors Capital Management LLC increased its stake in Clear Channel Outdoor by 91.7% in the 3rd quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock valued at $36,000 after buying an additional 11,000 shares during the period. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Insider Activity at Clear Channel Outdoor

In related news, Director Raymond T. White sold 23,435,796 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $2.40, for a total value of $56,245,910.40. Following the sale, the director directly owned 187,371 shares in the company, valued at $449,690.40. The trade was a 99.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.20% of the stock is owned by corporate insiders.

Clear Channel Outdoor Stock Performance

Shares of NYSE CCO opened at $2.40 on Tuesday. The firm has a market capitalization of $1.22 billion, a P/E ratio of -13.31 and a beta of 1.96. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.00 and a one year high of $2.43. The company’s fifty day moving average is $2.39 and its two-hundred day moving average is $2.28.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $373.86 million for the quarter, compared to the consensus estimate of $348.71 million. On average, sell-side analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a research note on Friday, February 27th. TD Cowen reissued a “hold” rating and issued a $2.43 price objective (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $2.29.

About Clear Channel Outdoor

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.