Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Position Increased by AQR Capital Management LLC

AQR Capital Management LLC increased its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 605.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 226,372 shares of the business services provider’s stock after purchasing an additional 194,296 shares during the period. AQR Capital Management LLC’s holdings in Clear Channel Outdoor were worth $319,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CCG Wealth Management LLC bought a new stake in shares of Clear Channel Outdoor in the 1st quarter worth approximately $46,000. Quadrature Capital Ltd bought a new stake in Clear Channel Outdoor during the 4th quarter valued at $68,000. Point72 DIFC Ltd bought a new stake in Clear Channel Outdoor during the 2nd quarter valued at $55,000. XTX Topco Ltd raised its stake in Clear Channel Outdoor by 28.4% during the 2nd quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 17,957 shares in the last quarter. Finally, Cowen AND Company LLC bought a new stake in Clear Channel Outdoor during the 2nd quarter valued at $120,000. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

Shares of CCO stock opened at $1.59 on Thursday. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $1.04 and a 1 year high of $2.06. The stock has a market cap of $774.60 million, a PE ratio of -2.06 and a beta of 3.07. The business’s fifty day moving average is $1.53 and its 200-day moving average is $1.52.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $558.54 million during the quarter, compared to the consensus estimate of $563.75 million. Equities research analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CCO has been the topic of several recent analyst reports. Wells Fargo & Company downgraded Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $2.75 to $1.75 in a research note on Thursday, September 19th. Barrington Research reaffirmed an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research note on Monday, August 12th.

Insider Activity

In other news, major shareholder Pacific Investment Management sold 46,959 shares of Clear Channel Outdoor stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $1.69, for a total transaction of $79,360.71. Following the transaction, the insider now directly owns 104,812,998 shares in the company, valued at approximately $177,133,966.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.53% of the stock is owned by insiders.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.