Clear Channel Outdoor Holdings (CCO)

• Sector: Communication Services
• Industry: Advertising

About: Clear Channel Outdoor Holdings Inc is one of the world's largest outdoor advertising companies. The company is engaged in providing advertising opportunities through billboards, street furniture displays, transit displays, and other out-of-home advertising displays for its clients. Its reportable segment includes America; Airports; Europe-North and Europe-South. The company generates maximum revenue from the America segment. The America segment serves markets throughout the U.S., with over 90% of its revenue generated from billboard displays.

Employees: 3,900

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

4,930% more call options, than puts

Call options by funds: $1.16M | Put options by funds: $23K

92% more first-time investments, than exits

New positions opened: 25 | Existing positions closed: 13

8% more funds holding

Funds holding: 149 [Q1] → 161 (+12) [Q2]

7% more repeat investments, than reductions

Existing positions increased: 49 | Existing positions reduced: 46

1.59% less ownership

Funds ownership: 86.23% [Q1] → 84.64% (-1.59%) [Q2]

14% less funds holding in top 10

Funds holding in top 10: 7 [Q1] → 6 (-1) [Q2]

15% less capital invested

Capital invested by funds: $688M [Q1] → $583M (-$105M) [Q2]

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $1.75 17% upside
• Avg. target: $2.13 42% upside
• High target: $2.50 67% upside

2 analyst ratings

• positive: 1 50%
• neutral: 1 50%
• negative: 0 0%

Wells Fargo Steven Cahall 63% 1-year accuracy 20 / 32 met price target	17% upside $1.75	Equal-Weight Downgraded	19 Sept 2024
Barrington Research James Goss 72% 1-year accuracy 26 / 36 met price target	67% upside $2.50	Outperform Maintained	12 Aug 2024