Pacific Investment Management Sells 5,022 Shares of CLEAR CHANNEL O/SH (NYSE:CCO) Stock

CLEAR CHANNEL O/SH (NYSE:CCO) major shareholder Pacific Investment Management sold 5,022 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $2.48, for a total transaction of $12,454.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of CLEAR CHANNEL O/SH stock opened at $2.46 on Friday. The firm has a market capitalization of $1.15 billion, a PE ratio of -4.24 and a beta of 0.77. CLEAR CHANNEL O/SH has a twelve month low of $2.06 and a twelve month high of $6.25. The firm’s 50-day moving average price is $2.63 and its 200 day moving average price is $4.07.

CLEAR CHANNEL O/SH (NYSE:CCO) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.03) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.03). The company had revenue of $698.02 million during the quarter, compared to analysts’ expectations of $698.33 million. On average, equities analysts anticipate that CLEAR CHANNEL O/SH will post -0.5 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. Cowen assumed coverage on shares of CLEAR CHANNEL O/SH in a research note on Wednesday, September 4th. They set an “outperform” rating and a $3.00 target price on the stock. Wells Fargo & Co assumed coverage on shares of CLEAR CHANNEL O/SH in a research note on Monday, September 23rd. They set an “outperform” rating and a $4.00 target price on the stock. ValuEngine lowered shares of CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Zacks Investment Research lowered shares of CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Barclays initiated coverage on shares of CLEAR CHANNEL O/SH in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $3.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $6.90.

A number of institutional investors have recently modified their holdings of CCO. Allianz Asset Management GmbH purchased a new position in CLEAR CHANNEL O/SH in the 2nd quarter valued at about $492,110,000. Vanguard Group Inc. lifted its stake in CLEAR CHANNEL O/SH by 437.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,594,873 shares of the business services provider’s stock valued at $92,487,000 after buying an additional 15,950,271 shares in the last quarter. Invesco Ltd. lifted its stake in CLEAR CHANNEL O/SH by 19,175.7% in the 2nd quarter. Invesco Ltd. now owns 15,440,619 shares of the business services provider’s stock valued at $72,880,000 after buying an additional 15,360,515 shares in the last quarter. Third Point LLC purchased a new position in CLEAR CHANNEL O/SH in the 2nd quarter valued at about $37,760,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in CLEAR CHANNEL O/SH by 4,499.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 7,098,359 shares of the business services provider’s stock valued at $33,504,000 after acquiring an additional 6,944,029 shares during the last quarter. 76.05% of the stock is currently owned by hedge funds and other institutional investors.

About CLEAR CHANNEL O/SH

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.

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Insider Buying and Selling by Quarter for CLEAR CHANNEL O/SH (NYSE:CCO)

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