JPMorgan Chase & Co. Boosts Position in Clear Channel Outdoor Holdings, Inc. (CCO)

JPMorgan Chase & Co. boosted its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,696,145 shares of the business services provider’s stock after buying an additional 300,142 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.58% of Clear Channel Outdoor Holdings worth $27,626,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Clear Channel Outdoor Holdings by 5.8% during the first quarter. Vanguard Group Inc. now owns 2,769,397 shares of the business services provider’s stock valued at $16,754,000 after buying an additional 151,067 shares during the period. Renaissance Technologies LLC grew its position in Clear Channel Outdoor Holdings by 4.6% during the first quarter. Renaissance Technologies LLC now owns 936,900 shares of the business services provider’s stock valued at $5,668,000 after buying an additional 40,800 shares during the period. Gallagher Fiduciary Advisors LLC grew its position in Clear Channel Outdoor Holdings by 18.5% during the first quarter. Gallagher Fiduciary Advisors LLC now owns 564,193 shares of the business services provider’s stock valued at $3,413,000 after buying an additional 88,000 shares during the period. AEGON USA Investment Management LLC grew its position in Clear Channel Outdoor Holdings by 96.9% during the second quarter. AEGON USA Investment Management LLC now owns 468,819 shares of the business services provider’s stock valued at $2,274,000 after buying an additional 230,683 shares during the period. Finally, Geode Capital Management LLC grew its position in Clear Channel Outdoor Holdings by 8.3% during the first quarter. Geode Capital Management LLC now owns 279,116 shares of the business services provider’s stock valued at $1,688,000 after buying an additional 21,374 shares during the period. Institutional investors own 9.64% of the company’s stock.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Clear Channel Outdoor Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. BidaskClub upgraded shares of Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, ValuEngine lowered shares of Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $7.81.

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) opened at 4.00 on Tuesday. The stock has a market capitalization of $1.44 billion, a P/E ratio of 40.00 and a beta of 1.55. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $3.35 and a 12-month high of $6.35. The firm’s 50-day moving average is $4.23 and its 200 day moving average is $4.77.

Clear Channel Outdoor Holdings (NYSE:CCO) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Clear Channel Outdoor Holdings had a negative return on equity of 3.35% and a net margin of 1.40%. The company had revenue of $672.32 million during the quarter, compared to the consensus estimate of $672.22 million. On average, equities research analysts forecast that Clear Channel Outdoor Holdings, Inc. will post ($0.09) EPS for the current fiscal year.

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About Clear Channel Outdoor Holdings

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).

Institutional Ownership by Quarter for Clear Channel Outdoor Holdings (NYSE:CCO)

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