Principal Financial Group Inc. Sells 10,299 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Principal Financial Group Inc. lowered its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 28.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,624 shares of the business services provider’s stock after selling 10,299 shares during the quarter. Principal Financial Group Inc.’s holdings in Clear Channel Outdoor were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC grew its holdings in shares of Clear Channel Outdoor by 44.0% during the 2nd quarter. Millennium Management LLC now owns 7,332,360 shares of the business services provider’s stock worth $10,339,000 after acquiring an additional 2,242,205 shares during the period. Gabelli Funds LLC boosted its position in shares of Clear Channel Outdoor by 25.9% during the second quarter. Gabelli Funds LLC now owns 2,865,000 shares of the business services provider’s stock valued at $4,040,000 after purchasing an additional 590,000 shares in the last quarter. Whitebox Advisors LLC boosted its position in shares of Clear Channel Outdoor by 11.5% during the third quarter. Whitebox Advisors LLC now owns 1,807,486 shares of the business services provider’s stock valued at $2,892,000 after purchasing an additional 185,700 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Clear Channel Outdoor by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 1,406,519 shares of the business services provider’s stock worth $1,983,000 after purchasing an additional 49,714 shares during the period. Finally, Jane Street Group LLC raised its holdings in Clear Channel Outdoor by 56.7% in the third quarter. Jane Street Group LLC now owns 1,116,893 shares of the business services provider’s stock worth $1,787,000 after purchasing an additional 404,082 shares in the last quarter. 85.52% of the stock is owned by institutional investors.

Clear Channel Outdoor Price Performance

Shares of Clear Channel Outdoor stock opened at $1.45 on Wednesday. The stock has a market cap of $706.72 million, a price-to-earnings ratio of -4.98 and a beta of 3.04. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $1.29 and a 1 year high of $2.06. The firm’s 50-day moving average is $1.50 and its 200 day moving average is $1.53.

Analysts Set New Price Targets

CCO has been the subject of several research reports. Barrington Research reiterated an “outperform” rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a research note on Thursday, October 31st. Wells Fargo & Company downgraded shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $2.75 to $1.75 in a research note on Thursday, September 19th. Finally, TD Cowen dropped their price target on Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Clear Channel Outdoor has an average rating of “Hold” and an average price target of $2.16.

Insider Transactions at Clear Channel Outdoor

In other news, major shareholder Arturo R. Moreno acquired 250,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price of $1.45 per share, with a total value of $362,500.00. Following the completion of the acquisition, the insider now directly owns 52,182,534 shares of the company’s stock, valued at approximately $75,664,674.30. The trade was a 0.48 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.53% of the company’s stock.

Clear Channel Outdoor Profile

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.