Clear Channel Outdoor Holdings, Inc. $CCO Shares Purchased by Cove Street Capital LLC

Cove Street Capital LLC lifted its position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 59.9% during the 3rd quarter, Holdings Channel reports. The firm owned 1,642,567 shares of the business services provider’s stock after purchasing an additional 615,451 shares during the quarter. Clear Channel Outdoor comprises 3.4% of Cove Street Capital LLC’s portfolio, making the stock its 7th biggest holding. Cove Street Capital LLC’s holdings in Clear Channel Outdoor were worth $2,595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CCO. Sanders Morris Harris LLC acquired a new stake in Clear Channel Outdoor in the 3rd quarter valued at about $25,000. CWM LLC increased its position in Clear Channel Outdoor by 97.9% during the third quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock worth $26,000 after buying an additional 8,248 shares during the last quarter. Burney Co. acquired a new position in Clear Channel Outdoor during the third quarter worth approximately $32,000. Advisors Capital Management LLC raised its stake in Clear Channel Outdoor by 91.7% in the third 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. Finally, Jefferies Financial Group Inc. bought a new stake in Clear Channel Outdoor in the third quarter valued at approximately $45,000. 85.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CCO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Monday, December 29th. TD Cowen set a $2.50 price target on Clear Channel Outdoor in a research note on Tuesday, February 10th. Finally, Wells Fargo & Company raised their price target on Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a report on Friday, February 27th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $2.31.

Clear Channel Outdoor Stock Performance

CCO stock opened at $2.39 on Friday. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $2.43. The company has a market capitalization of $1.19 billion, a PE ratio of 47.71 and a beta of 2.30. The company’s 50-day simple moving average is $2.24 and its 200 day simple moving average is $1.91.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Thursday, February 26th. The business services provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $461.52 million during the quarter, compared to the consensus estimate of $449.10 million.

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.