Point72 Asia Singapore Pte. Ltd. Sells 41,693 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Point72 Asia Singapore Pte. Ltd. cut its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 42.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,555 shares of the business services provider’s stock after selling 41,693 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Clear Channel Outdoor were worth $89,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in shares of Clear Channel Outdoor in the 3rd quarter worth approximately $32,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Clear Channel Outdoor in the third quarter worth $34,000. Ground Swell Capital LLC bought a new position in Clear Channel Outdoor in the 3rd quarter valued at $34,000. Stratos Wealth Advisors LLC purchased a new stake in shares of Clear Channel Outdoor during the 3rd quarter valued at $40,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Clear Channel Outdoor during the 2nd quarter valued at $55,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Insider Activity

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 250,000 shares of Clear Channel Outdoor stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $1.45 per share, for a total transaction of $362,500.00. Following the purchase, the insider now owns 52,182,534 shares of the company’s stock, valued at approximately $75,664,674.30. This represents a 0.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.53% of the company’s stock.

Clear Channel Outdoor Stock Performance

Shares of Clear Channel Outdoor stock opened at $1.56 on Friday. The stock has a market capitalization of $760.52 million, a P/E ratio of -5.36 and a beta of 3.05. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $1.29 and a 52-week high of $2.06. The stock’s 50-day simple moving average is $1.56 and its 200 day simple moving average is $1.53.

Wall Street Analyst Weigh In

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

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.