California State Teachers Retirement System Sells 23,980 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

California State Teachers Retirement System cut its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 10.0% in the fourth quarter, HoldingsChannel reports. The fund owned 215,193 shares of the business services provider’s stock after selling 23,980 shares during the period. California State Teachers Retirement System’s holdings in Clear Channel Outdoor were worth $295,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Clear Channel Outdoor by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider’s stock worth $277,000 after buying an additional 11,015 shares during the last quarter. MetLife Investment Management LLC increased its stake in Clear Channel Outdoor by 8.5% in the fourth quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 13,824 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Clear Channel Outdoor by 24.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 18,958 shares in the last quarter. DigitalBridge Group Inc. increased its stake in Clear Channel Outdoor by 2.4% in the fourth quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider’s stock valued at $1,129,000 after purchasing an additional 19,100 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Clear Channel Outdoor by 7.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 376,987 shares of the business services provider’s stock valued at $518,000 after purchasing an additional 25,197 shares in the last quarter. 85.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CCO has been the subject of several research analyst reports. Barrington Research cut shares of Clear Channel Outdoor from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 23rd. Morgan Stanley reduced their target price on shares of Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating for the company in a report on Thursday, May 1st.

Clear Channel Outdoor Trading Up 0.4%

NYSE CCO opened at $1.16 on Friday. The firm’s fifty day moving average price is $1.06 and its two-hundred day moving average price is $1.25. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $0.81 and a 1 year high of $1.88. The firm has a market capitalization of $573.71 million, a P/E ratio of -3.98 and a beta of 2.59.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $334.18 million during the quarter, compared to the consensus estimate of $337.70 million.

Insider Buying and Selling

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno purchased 38,815 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost of $1.06 per share, with a total value of $41,143.90. Following the completion of the transaction, the insider now owns 64,134,352 shares in the company, valued at $67,982,413.12. The trade was a 0.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Wells acquired 50,000 shares of Clear Channel Outdoor stock in a transaction on Tuesday, May 6th. The shares were purchased at an average price of $1.08 per share, for a total transaction of $54,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,392,205 shares of the company’s stock, valued at approximately $3,663,581.40. This represents a 1.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 8,009,591 shares of company stock valued at $7,774,881. 7.70% of the stock is owned by company insiders.

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.