Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Shares Acquired by Requisite Capital Management LLC

Requisite Capital Management LLC increased its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 100.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 400,000 shares of the business services provider’s stock after purchasing an additional 200,000 shares during the period. Requisite Capital Management LLC owned 0.08% of Clear Channel Outdoor worth $728,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CCO. Bank of New York Mellon Corp grew its stake in Clear Channel Outdoor by 10.8% in the first quarter. Bank of New York Mellon Corp now owns 1,809,633 shares of the business services provider’s stock worth $6,261,000 after purchasing an additional 176,774 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Clear Channel Outdoor by 90.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,500 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 22,500 shares during the period. MetLife Investment Management LLC boosted its stake in Clear Channel Outdoor by 39.0% in the first quarter. MetLife Investment Management LLC now owns 175,746 shares of the business services provider’s stock valued at $608,000 after acquiring an additional 49,285 shares during the period. Panagora Asset Management Inc. acquired a new position in Clear Channel Outdoor in the first quarter valued at approximately $808,000. Finally, APG Asset Management N.V. acquired a new position in Clear Channel Outdoor in the first quarter valued at approximately $1,945,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley lifted their target price on Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Wells Fargo & Company upgraded Clear Channel Outdoor from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $1.50 to $2.75 in a research note on Wednesday, December 20th. StockNews.com upgraded Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research note on Friday, February 16th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $2.50 price target on shares of Clear Channel Outdoor in a report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.16.

Clear Channel Outdoor Stock Performance

Shares of CCO traded down $0.05 during mid-day trading on Tuesday, reaching $1.57. 1,364,120 shares of the company’s stock traded hands, compared to its average volume of 2,369,892. The business’s 50-day moving average price is $1.72 and its 200-day moving average price is $1.55. The stock has a market capitalization of $757.02 million, a P/E ratio of -2.41 and a beta of 2.88. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $0.99 and a 12 month high of $2.06.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings results on Monday, February 26th. The business services provider reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $632.11 million for the quarter, compared to the consensus estimate of $611.62 million. During the same period last year, the firm posted $0.24 EPS. Equities research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.24 EPS for the current year.

Clear Channel Outdoor 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.