Arturo R. Moreno, a 10% owner of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO), has significantly increased his stake in the company through recent stock purchases. On April 16 and April 17, Moreno acquired a total of 1,186,093 shares of common stock. The purchases were executed at prices ranging from $0.93 to $0.95 per share, amounting to a total investment of approximately $1,107,175. According to InvestingPro data, this insider buying comes as the stock has declined nearly 40% over the past six months, with current trading showing significant volatility.
Following these transactions, Moreno’s total ownership in Clear Channel Outdoor Holdings now stands at 61,415,907 shares. The acquisitions were made directly, with no equity swaps involved. These transactions were reported in a Form 4 filing with the Securities and Exchange Commission. analysis indicates the company currently trades below its Fair Value, with a concerning debt burden and negative free cash flow yield. Unlock 8 additional key ProTips and comprehensive insider trading analysis with an InvestingPro subscription.
In other recent news, Clear Channel Outdoor Holdings Inc . reported its financial results for the fourth quarter of 2024, which revealed a miss in earnings per share (EPS) and revenue compared to market expectations. The company posted an EPS of -$0.0365, falling short of the forecasted $0.02, and revenue reached $427 million, below the anticipated $646.83 million. Despite this, Clear Channel experienced a 2.6% increase in consolidated revenue for Q4, supported by a 4.1% increase in the Americas segment and a 4.3% rise in the airports segment. Additionally, Clear Channel announced it has obtained all necessary regulatory clearances to proceed with the sale of its Europe-North advertising segment to Bauer Radio Limited, expected to finalize by March 31, 2025. This sale is part of Clear Channel’s strategy to focus on higher-margin U.S. operations. Analyst feedback from firms like Morgan Stanley (NYSE:MS) and Wells Fargo (NYSE:WFC) highlighted the company’s ongoing efforts in cost optimization and strategic growth initiatives. The company provided guidance for 2025, projecting consolidated revenue between $1.562 billion and $1.607 billion, indicating a 4% to 7% increase. Clear Channel’s CEO, Scott Wells, emphasized the company’s commitment to driving growth in its most profitable segments and reducing debt.