Readystate Asset Management LP Has $1.74 Million Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Readystate Asset Management LP grew its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 64.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 957,401 shares of the business services provider’s stock after purchasing an additional 374,347 shares during the period. Readystate Asset Management LP owned about 0.20% of Clear Channel Outdoor worth $1,742,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CCO. Bank of New York Mellon Corp raised its holdings in Clear Channel Outdoor by 10.8% in the first quarter. Bank of New York Mellon Corp now owns 1,809,633 shares of the business services provider’s stock worth $6,261,000 after purchasing an additional 176,774 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Clear Channel Outdoor by 90.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,500 shares of the business services provider’s stock worth $164,000 after purchasing an additional 22,500 shares during the period. MetLife Investment Management LLC raised its holdings in Clear Channel Outdoor by 39.0% in the first quarter. MetLife Investment Management LLC now owns 175,746 shares of the business services provider’s stock worth $608,000 after purchasing an additional 49,285 shares during the period. Panagora Asset Management Inc. acquired a new stake in shares of Clear Channel Outdoor during the first quarter worth $808,000. Finally, APG Asset Management N.V. acquired a new stake in shares of Clear Channel Outdoor during the first quarter worth $1,945,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Clear Channel Outdoor Trading Down 2.4 %

Shares of CCO traded down $0.03 during midday trading on Wednesday, reaching $1.43. The stock had a trading volume of 1,197,550 shares, compared to its average volume of 2,419,636. The firm has a 50 day simple moving average of $1.67 and a 200-day simple moving average of $1.55. Clear Channel Outdoor Holdings, Inc. has a one year low of $0.99 and a one year high of $2.06. The firm has a market cap of $689.30 million, a PE ratio of -2.19 and a beta of 2.88.

Clear Channel Outdoor (NYSE:CCO) last posted its earnings results on Monday, February 26th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $632.11 million for the quarter, compared to analyst estimates of $611.62 million. During the same quarter in the prior year, the business posted $0.24 EPS. As a group, research analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CCO has been the topic of a number of research analyst reports. Barrington Research restated an “outperform” rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a report on Tuesday, February 27th. Morgan Stanley raised their price objective on shares of Clear Channel Outdoor from $1.50 to $2.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. StockNews.com upgraded shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, February 16th. Finally, Wells Fargo & Company raised shares of Clear Channel Outdoor from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $1.50 to $2.75 in a research report on Wednesday, December 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Clear Channel Outdoor currently has an average rating of “Hold” and a consensus target price of $2.16.

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.