On May 25, 2023, Barrington Research reiterated its coverage of Clear Channel Outdoor Holdings (NYSE:CCO) with an Outperform recommendation. This comes with an average one-year price target for the company of 1.93, indicating a potential increase of 50.61% from its latest reported closing price of 1.28.
Currently, there are 385 funds or institutions reporting positions in CCO, a decrease of 14 owners or 3.51% in the last quarter. The average portfolio weight of all funds dedicated to CCO is 0.19%, representing an increase of 44.59%. Total shares owned by institutions increased in the last three months by 3.63% to 591,980K shares.
Allianz Asset Management holds 104,873K shares representing 21.72% ownership of the company. No change in the last quarter. Ares Management holds 55,829K shares representing 11.56% ownership of the company, which increased by 11.07%. PONAX – PIMCO Income Fund holds 50,863K shares representing 10.53% ownership of the company, with no change in the last quarter. Mason Capital Management holds 21,260K shares representing 4.40%, and Legion Partners Asset Management holds 20,543K shares, representing 4.25%.
Clear Channel Outdoor Holdings, Inc. is one of the world’s largest outdoor advertising companies, with a diverse portfolio of approximately 500,000 print and digital displays in 31 countries worldwide. The company employs around 4,800 people globally and has a growing digital platform that includes nearly 17,000 displays in international markets and more than 2,000 displays in the U.S.
This story originally appeared on Fintel.
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