Zazove Associates LLC increased its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 75.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,741 shares of the business services provider’s stock after buying an additional 127,299 shares during the quarter. Zazove Associates LLC owned about 0.08% of Clear Channel Outdoor worth $1,276,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN grew its holdings in Clear Channel Outdoor by 129.5% in the 4th quarter. Wells Fargo & Company MN now owns 43,873 shares of the business services provider’s stock worth $202,000 after buying an additional 24,758 shares in the last quarter. Symphony Asset Management LLC grew its holdings in Clear Channel Outdoor by 50.0% in the 1st quarter. Symphony Asset Management LLC now owns 63,000 shares of the business services provider’s stock worth $309,000 after buying an additional 21,000 shares in the last quarter. California Public Employees Retirement System grew its holdings in Clear Channel Outdoor by 32.5% in the 1st quarter. California Public Employees Retirement System now owns 74,577 shares of the business services provider’s stock worth $365,000 after buying an additional 18,277 shares in the last quarter. Deutsche Bank AG grew its holdings in Clear Channel Outdoor by 117.1% in the 4th quarter. Deutsche Bank AG now owns 82,727 shares of the business services provider’s stock worth $379,000 after buying an additional 44,620 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Clear Channel Outdoor by 23.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 167,524 shares of the business services provider’s stock worth $721,000 after buying an additional 31,851 shares in the last quarter. 8.85% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on CCO shares. Zacks Investment Research raised Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. ValuEngine raised Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, June 1st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Clear Channel Outdoor has a consensus rating of “Hold” and a consensus price target of $8.00.

CCO remained flat at $$5.35 during trading on Friday. The company’s stock had a trading volume of 117,525 shares, compared to its average volume of 132,529. The firm has a market capitalization of $1.95 billion, a P/E ratio of 267.50 and a beta of 1.64. The company has a debt-to-equity ratio of -2.54, a current ratio of 1.44 and a quick ratio of 1.44. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $3.60 and a 12-month high of $5.50.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results on Tuesday, July 31st. The business services provider reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.11). The business had revenue of $711.98 million during the quarter, compared to analysts’ expectations of $701.51 million. research analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.6 earnings per share for the current fiscal year.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates in two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.

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Institutional Ownership by Quarter for Clear Channel Outdoor (NYSE:CCO)

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