Here is What Hedge Funds Think About Clear Channel Outdoor Holdings, Inc. (CCO)

Consequently, key money managers were breaking ground themselves. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital established the largest position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO). Arrowstreet Capital had $0.2 million invested in the company at the end of the third quarter.

Let’s now review hedge fund activity in other stocks similar to Clear Channel Outdoor Holdings, Inc. (NYSE:CCO). We will take a look at WebMD Health Corp. (NASDAQ:WBMD), Cepheid (NASDAQ:CPHD), New Gold Inc. (USA) (NYSEAMEX:NGD), and Visteon Corp (NYSE:VC). All of these stocks’ market caps resemble CCO’s market cap.

As you can see these stocks had an average of 26 investors with bullish positions and the average amount invested in these stocks was $420 million, compared to $74 million in CCO’s case. Cepheid (NASDAQ:CPHD) is the most popular stock in this table with 33 investors having reported long positions. On the other hand New Gold Inc. (USA) (NYSEAMEX:NGD) is the least popular one with only 15 bullish hedge fund positions. Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Cepheid (NASDAQ:CPHD) might be a better candidate to consider taking a long position in.

Disclosure: None