Jacksonville Wealth Management LLC Takes Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Jacksonville Wealth Management LLC purchased a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 45,000 shares of the business services provider’s stock, valued at approximately $62,000.

Several other large investors have also bought and sold shares of CCO. Millennium Management LLC raised its position 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 valued at $10,339,000 after acquiring an additional 2,242,205 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Clear Channel Outdoor by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider’s stock worth $10,818,000 after purchasing an additional 54,566 shares during the period. Whitebox Advisors LLC increased its holdings in Clear Channel Outdoor by 11.5% in 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 during the last quarter. Jane Street Group LLC lifted its stake 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 valued at $1,787,000 after buying an additional 404,082 shares during the period. Finally, Cerity Partners LLC bought a new position in Clear Channel Outdoor during the third quarter worth about $1,730,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCO has been the subject of a number of recent analyst reports. TD Cowen lowered their price target on Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research note on Friday, November 1st. Barrington Research reaffirmed an “outperform” rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.16.

Insiders Place Their Bets

In related news, major shareholder Arturo R. Moreno acquired 250,000 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.53% of the company’s stock.

Clear Channel Outdoor Price Performance

NYSE CCO opened at $1.44 on Friday. The stock’s 50-day moving average is $1.48 and its 200-day moving average is $1.53. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.29 and a one year high of $2.06. The firm has a market cap of $701.83 million, a P/E ratio of -4.95 and a beta of 3.04.

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.