Insider Buying Takes Clear Channel Outdoor Stock Up +7.1%
Putting $$ Where Your Mouth Is
Clear Channel top management and a director of the company are putting their money where their mouths are. A combined total of 435,000 shares were purchased recently by CCO’s CEO Scott Wells, CFO Brian Coleman and CCO Director Benjamin Moreland.
Do these purchases make a statement about their commitment and confidence in CCO? The stock has realized over the last 52 weeks a range of $2.06 – 6.38.
Seeking Alpha reports Clear Channel Outdoor Holdings (NYSE:CCO) is up 7.1% after hours following a disclosure that a director bought just over $900,000 in shares.
Benjamin Moreland bought 400,000 shares at an average price of $2.2842 yesterday, according to an SEC filing. That leaves his beneficial ownership at 461,452 shares.
Scott Wells, CEO of CCO Americas disclosed a purchase of 15,000 shares at an average price of $2.3628 from Wednesday. That settles his beneficial ownership at 587,356 shares.
Chief Financial Officer, Brian Coleman bought 20,000 shares at $2.4426 each on Wednesday, increasing his total to 139,727.