Gamco Investors INC. ET AL Has $21.53 Million Stake in Clear Channel Outdoor Holdings, Inc. $CCO

Gamco Investors INC. ET AL lifted its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 11.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,085,775 shares of the business services provider’s stock after acquiring an additional 959,400 shares during the quarter. Gamco Investors INC. ET AL owned approximately 1.79% of Clear Channel Outdoor worth $21,533,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CCO. Ieq Capital LLC raised its position in Clear Channel Outdoor by 8.3% in the 4th quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 4,493 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Clear Channel Outdoor by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock valued at $234,000 after buying an additional 8,976 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Clear Channel Outdoor by 61.8% in the fourth quarter. SG Americas Securities LLC now owns 23,618 shares of the business services provider’s stock valued at $52,000 after buying an additional 9,019 shares during the last quarter. Captrust Financial Advisors acquired a new position in Clear Channel Outdoor during the 4th quarter worth about $27,000. Finally, EntryPoint Capital LLC bought a new stake in Clear Channel Outdoor during the 4th quarter worth about $28,000. 85.52% of the stock is currently owned by institutional investors.

Insider Activity at Clear Channel Outdoor

In related news, Director Raymond T. White sold 2,500,900 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $2.40, for a total value of $6,002,160.00. Following the sale, the director directly owned 91,003 shares in the company, valued at $218,407.20. This trade represents a 96.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 26,239,967 shares of company stock valued at $62,975,921. Corporate insiders own 7.70% of the company’s stock.

Clear Channel Outdoor Stock Up 0.2%

Shares of Clear Channel Outdoor stock opened at $2.42 on Friday. The business has a fifty day simple moving average of $2.40 and a 200 day simple moving average of $2.34. The stock has a market cap of $1.23 billion, a PE ratio of -13.42 and a beta of 1.95. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $1.00 and a 12 month high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $373.86 million during the quarter, compared to analysts’ expectations of $348.71 million. Analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CCO. Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Wednesday, June 24th. TD Cowen reiterated a “hold” rating and issued a $2.43 price objective (down from $2.50) on shares of Clear Channel Outdoor in a research report on Monday, April 6th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Clear Channel Outdoor has a consensus rating of “Reduce” and an average target price of $2.29.

Clear Channel Outdoor 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.