Arturo Moreno buys $4.78 million in Clear Channel Outdoor stock

Arturo R. Moreno, a significant stakeholder in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO), has recently expanded his investment in the company. According to a recent SEC filing, Moreno acquired a total of 5 million shares of common stock in two separate transactions. The company, currently valued at $422 million, has seen its stock trading near its 52-week low of $0.81.

The first purchase, executed on April 4, involved 2.5 million shares at an average price of $0.97 per share. The second transaction, conducted on April 7, also involved 2.5 million shares but at a slightly lower average price of $0.94 per share. The total value of these transactions amounted to approximately $4.78 million.

These acquisitions bring Moreno's total holdings in Clear Channel Outdoor to over 57 million shares. The purchases were made over a price range of $0.898 to $0.98 per share, reflecting Moreno's continued confidence in the company's prospects. According to InvestingPro data, analysts have set price targets ranging from $1.30 to $2.00, while the company maintains a "Fair" financial health score despite operating with significant debt. Discover 12 additional key insights about CCO and access comprehensive analysis through InvestingPro's detailed research reports.

In other recent news, Clear Channel Outdoor Holdings Inc . reported its financial results for the fourth quarter of 2024, revealing a miss in earnings per share (EPS) against market expectations. The company posted an EPS of -$0.0365, falling short of the forecasted $0.02. Revenue for the quarter reached $427 million, below the anticipated $646.83 million. In another development, Clear Channel has obtained all necessary regulatory clearances to proceed with the sale of its Europe-North advertising segment to Bauer Radio Limited, a transaction expected to finalize on March 31, 2025. This sale is part of Clear Channel's strategy to focus on higher-margin U.S. operations. Additionally, Clear Channel's digital revenue now constitutes 39.5% of Americas revenue, marking a 7.6% increase. Analyst firms have not provided recent upgrades or downgrades for Clear Channel, but the company continues to face challenges in meeting market expectations, which may influence investor confidence. These developments reflect Clear Channel's ongoing efforts to optimize its portfolio and improve financial performance.

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