GSA Capital Partners LLP Invests $695,000 in Clear Channel Outdoor Holdings, Inc. $CCO

by · The Markets Daily

GSA Capital Partners LLP bought a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund bought 287,287 shares of the business services provider’s stock, valued at approximately $695,000.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Clear Channel Outdoor by 109.4% in the first quarter. Dimensional Fund Advisors LP now owns 899,187 shares of the business services provider’s stock worth $2,131,000 after acquiring an additional 469,876 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Clear Channel Outdoor by 11.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 9,085,775 shares of the business services provider’s stock worth $21,533,000 after purchasing an additional 959,400 shares in the last quarter. Sentinel Dome Partners LLC acquired a new position in shares of Clear Channel Outdoor during the 4th quarter worth $3,470,000. Capula Management Ltd acquired a new position in shares of Clear Channel Outdoor during the 1st quarter worth $2,200,000. Finally, Occam Crest Management LP increased its holdings in shares of Clear Channel Outdoor by 423.7% in the 4th quarter. Occam Crest Management LP now owns 3,404,300 shares of the business services provider’s stock valued at $7,524,000 after purchasing an additional 2,754,300 shares in the last quarter. 85.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Clear Channel Outdoor from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Clear Channel Outdoor presently has a consensus rating of “Reduce” and an average price target of $2.29.

Get Our Latest Stock Report on Clear Channel Outdoor

Clear Channel Outdoor Trading Down 0.2%

Shares of CCO stock opened at $2.37 on Thursday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -11.26 and a beta of 1.95. The firm has a 50-day moving average price of $2.40 and a 200 day moving average price of $2.38. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $1.19 and a twelve month high of $2.44.

Clear Channel Outdoor (NYSE:CCO – Get Free Report) last announced its earnings results on Wednesday, August 5th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $438.04 million for the quarter, compared to analyst estimates of $423.62 million. As a group, research analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.05 earnings per share for the current year.

Insider Activity at Clear Channel Outdoor

In other Clear Channel Outdoor news, Director Raymond T. White sold 2,500,900 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $2.40, for a total transaction of $6,002,160.00. Following the completion of the sale, the director directly owned 91,003 shares in the company, valued at $218,407.20. This represents a 96.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 26,239,967 shares of company stock worth $62,975,921. Corporate insiders own 7.70% of the company’s stock.

Clear Channel Outdoor Company Profile

(Free Report)

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.

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