Shell Asset Management Co. Decreases Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Shell Asset Management Co. decreased its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 244,635 shares of the business services provider’s stock after selling 8,809 shares during the quarter. Shell Asset Management Co.’s holdings in Clear Channel Outdoor were worth $404,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CCO. SG Americas Securities LLC boosted its stake in Clear Channel Outdoor by 41.4% during the fourth quarter. SG Americas Securities LLC now owns 202,741 shares of the business services provider’s stock worth $369,000 after buying an additional 59,324 shares during the period. Requisite Capital Management LLC boosted its stake in shares of Clear Channel Outdoor by 100.0% during the 4th quarter. Requisite Capital Management LLC now owns 400,000 shares of the business services provider’s stock worth $728,000 after purchasing an additional 200,000 shares during the period. Wolverine Asset Management LLC grew its holdings in Clear Channel Outdoor by 40.7% during the 4th quarter. Wolverine Asset Management LLC now owns 1,390,168 shares of the business services provider’s stock valued at $2,530,000 after purchasing an additional 402,032 shares during the last quarter. Readystate Asset Management LP raised its position in Clear Channel Outdoor by 64.2% in the 4th quarter. Readystate Asset Management LP now owns 957,401 shares of the business services provider’s stock worth $1,742,000 after purchasing an additional 374,347 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Clear Channel Outdoor in the fourth quarter worth about $68,000. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Up 0.6 %

CCO stock opened at $1.65 on Friday. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $1.04 and a 12 month high of $2.06. The firm’s 50-day moving average is $1.50 and its 200 day moving average is $1.59.

Clear Channel Outdoor (NYSE:CCO) last issued its earnings results on Thursday, May 9th. The business services provider reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $481.75 million for the quarter, compared to analysts’ expectations of $480.69 million. During the same period last year, the business posted ($0.23) earnings per share. As a group, sell-side analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.