Arturo R. Moreno, a significant shareholder in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO), has increased his stake in the company with recent purchases totaling $390,701. The insider buying comes as the stock trades near $0.96, having declined 38% over the past six months. According to InvestingPro analysis, the company currently shows signs of undervaluation despite operating with significant debt levels. Moreno acquired 273,727 shares on April 10 at a price range between $0.97 and $1.02 per share, and an additional 112,722 shares on April 11 at prices ranging from $0.9925 to $1.0075 per share. Following these transactions, Moreno’s total holdings in the company have risen to 59,729,814 shares. InvestingPro subscribers can access 10+ additional exclusive insights about CCO, including detailed financial health scores and comprehensive valuation analysis in the Pro Research Report.
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, and revenue for the quarter reached $427 million, below the anticipated $646.83 million. Despite a 2.6% increase in consolidated revenue year-over-year, the earnings miss impacted investor sentiment. Additionally, Clear Channel announced it has obtained all necessary regulatory clearances for the sale of its Europe-North advertising segment to Bauer Radio Limited, with the transaction expected to close on March 31, 2025. This move is part of Clear Channel’s strategy to focus on higher-margin U.S. operations. Moreover, the company is concentrating on expanding its digital footprint, as digital revenue now constitutes 39.5% of Americas revenue, marking a 7.6% increase. Analyst firms have noted the challenges Clear Channel faces, with ongoing national advertising challenges and potential delays in divesting international segments. The company has provided revenue guidance for 2025, projecting a 4% to 7% increase, aiming to enhance growth through improved adjusted EBITDA and debt reduction.
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