Centiva Capital LP Purchases New Holdings in Clear Channel Outdoor Holdings, Inc. $CCO

Centiva Capital LP acquired a new position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the 3rd quarter, HoldingsChannel reports. The fund acquired 381,232 shares of the business services provider’s stock, valued at approximately $602,000.

A number of other hedge funds have also recently modified their holdings of CCO. Sanders Morris Harris LLC bought a new stake in shares of Clear Channel Outdoor during the 3rd quarter worth approximately $25,000. CWM LLC lifted its position in shares of 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 purchasing an additional 8,248 shares during the last quarter. Burney Co. bought a new stake in shares of Clear Channel Outdoor during the third quarter worth $32,000. Advisors Capital Management LLC boosted its stake in shares of Clear Channel Outdoor by 91.7% during the third quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 11,000 shares during the period. Finally, Zacks Investment Management bought a new position in shares of Clear Channel Outdoor in the third quarter worth about $36,000. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

NYSE CCO opened at $2.39 on Monday. The company has a market cap of $1.19 billion, a PE ratio of 47.71 and a beta of 2.30. The firm’s 50 day moving average price is $2.24 and its 200-day moving average price is $1.92. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $0.81 and a 52-week high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings data on Thursday, February 26th. The business services provider reported $0.02 EPS for the quarter, topping 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.

Analyst Ratings Changes

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

Clear Channel Outdoor Company 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.