Permanent Capital Management LP Buys Shares of 348,234 Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Permanent Capital Management LP bought a new stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 348,234 shares of the business services provider’s stock, valued at approximately $477,000. Clear Channel Outdoor accounts for approximately 0.1% of Permanent Capital Management LP’s portfolio, making the stock its 29th biggest holding. Permanent Capital Management LP owned 0.07% of Clear Channel Outdoor as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Crewe Advisors LLC acquired a new position in shares of Clear Channel Outdoor during the 3rd quarter worth $32,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Clear Channel Outdoor during the 3rd quarter worth $65,000. Jacksonville Wealth Management LLC acquired a new position in shares of Clear Channel Outdoor during the 4th quarter worth $62,000. Intech Investment Management LLC acquired a new position in shares of Clear Channel Outdoor during the 3rd quarter worth $107,000. Finally, Empowered Funds LLC acquired a new position in shares of Clear Channel Outdoor during the 4th quarter worth $216,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and set a $2.50 price target on shares of Clear Channel Outdoor in a research note on Monday, February 24th.

Clear Channel Outdoor Trading Up 1.3 %

Shares of CCO stock opened at $1.29 on Friday. The firm has a 50-day moving average price of $1.39 and a 200 day moving average price of $1.49. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $1.19 and a twelve month high of $1.88. The company has a market capitalization of $630.21 million, a price-to-earnings ratio of -4.43 and a beta of 3.05.

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.