CLEAR CHANNEL O/SH (NYSE:CCO) Shares Acquired by Taconic Capital Advisors LP

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Taconic Capital Advisors LP lifted its position in CLEAR CHANNEL O/SH (NYSE:CCO) by 3,977.4% in the second quarter, Holdings Channel reports. The firm owned 2,125,000 shares of the business services provider’s stock after acquiring an additional 2,072,883 shares during the period. CLEAR CHANNEL O/SH accounts for approximately 0.8% of Taconic Capital Advisors LP’s holdings, making the stock its 17th biggest position. Taconic Capital Advisors LP’s holdings in CLEAR CHANNEL O/SH were worth $10,030,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CCO. Aperio Group LLC acquired a new stake in shares of CLEAR CHANNEL O/SH in the 2nd quarter valued at about $26,000. BNP Paribas Arbitrage SA boosted its position in shares of CLEAR CHANNEL O/SH by 288.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,694 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 6,458 shares during the period. Virtus ETF Advisers LLC acquired a new stake in shares of CLEAR CHANNEL O/SH in the 2nd quarter valued at about $49,000. SG Americas Securities LLC acquired a new stake in shares of CLEAR CHANNEL O/SH in the 2nd quarter valued at about $57,000. Finally, Corient Capital Partners LLC acquired a new stake in shares of CLEAR CHANNEL O/SH in the 1st quarter valued at about $71,000. 76.05% of the stock is owned by hedge funds and other institutional investors.

CCO has been the subject of a number of research analyst reports. Barclays initiated coverage on CLEAR CHANNEL O/SH in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $3.00 target price for the company. Citigroup initiated coverage on CLEAR CHANNEL O/SH in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $2.70 target price for the company. ValuEngine cut CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Raymond James reaffirmed an “average” rating and set a $16.00 price objective on shares of CLEAR CHANNEL O/SH in a research note on Friday, July 26th. Finally, Wolfe Research downgraded CLEAR CHANNEL O/SH from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $7.31.

In other CLEAR CHANNEL O/SH news, Director W Benjamin Moreland bought 400,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $2.28 per share, with a total value of $912,000.00. Following the purchase, the director now owns 241,840 shares in the company, valued at approximately $551,395.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Scott Wells bought 15,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average cost of $2.36 per share, with a total value of $35,400.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 435,000 shares of company stock valued at $996,200. 4.70% of the stock is owned by company insiders.

CCO traded up $0.11 on Monday, hitting $2.87. 151,517 shares of the company traded hands, compared to its average volume of 4,712,967. The company has a 50 day moving average of $2.64 and a 200-day moving average of $4.45. The stock has a market capitalization of $1.30 billion, a PE ratio of -4.93 and a beta of 0.79. CLEAR CHANNEL O/SH has a 12-month low of $2.06 and a 12-month high of $6.38.

CLEAR CHANNEL O/SH (NYSE:CCO) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.03) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). The company had revenue of $698.02 million for the quarter, compared to analysts’ expectations of $698.33 million. Equities analysts expect that CLEAR CHANNEL O/SH will post -0.5 EPS for the current fiscal year.

CLEAR CHANNEL O/SH Profile

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through 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.

Further Reading: What does a market perform rating mean?

Want to see what other hedge funds are holding CCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CLEAR CHANNEL O/SH (NYSE:CCO).

Institutional Ownership by Quarter for CLEAR CHANNEL O/SH (NYSE:CCO)

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