Angelo Gordon & CO. L.P. purchased a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 968,472 shares of the business services provider’s stock, valued at approximately $4,455,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Clear Channel Outdoor by 0.4% during the second quarter. State Street Corp now owns 685,944 shares of the business services provider’s stock valued at $3,326,000 after buying an additional 3,004 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Clear Channel Outdoor by 70.6% during the second quarter. Voya Investment Management LLC now owns 22,912 shares of the business services provider’s stock valued at $111,000 after buying an additional 9,485 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Clear Channel Outdoor by 9.8% during the fourth quarter. Bank of New York Mellon Corp now owns 208,063 shares of the business services provider’s stock valued at $956,000 after buying an additional 18,514 shares during the last quarter. Nationwide Fund Advisors bought a new stake in shares of Clear Channel Outdoor during the second quarter valued at approximately $100,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Clear Channel Outdoor by 112.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 40,868 shares of the business services provider’s stock worth $187,000 after purchasing an additional 21,674 shares in the last quarter. 9.43% of the stock is currently owned by institutional investors.
Several brokerages recently commented on CCO. Cleveland Research cut Clear Channel Outdoor from a “buy” rating to a “neutral” rating in a report on Friday, February 9th. Scotiabank reissued a “sell” rating and set a $12.00 target price on shares of Clear Channel Outdoor in a report on Monday, December 4th. Finally, Loop Capital dropped their target price on Clear Channel Outdoor from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Thursday, November 9th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $7.33.
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Clear Channel Outdoor Profile
Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. Its segments include Americas outdoor advertising (Americas) and International outdoor advertising (International).
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