An article on insidermonkey gave some details about the hedge fund activity related to the stock. The article mentioned that in preparation for Q3'13, 10 of the hedge funds tracked by them were bullish on Clear Channel (an increase of 11% from the first quarter). There were a few notable hedge funds which increased their stake. Joshua Friedman and Mitchell Julis's Canyon Capital Advisors had the largest position in Clear Channel worth close around $39.4 million, while Mason Capital Management had around $31.1 million position. Further, a Judge in Delaware approved a $200 million dividend payment by Clear Channel Outdoor Holdings Inc. to settle a shareholder lawsuit over cash transfers to its parent company. The stock has, meanwhile moved up a bit during the last one month. It is looking a bit better, and the volumes average are a bit higher. The performance of the company over the years has not been very consistent because the bottom and the top line has not shown continuous growth. The recent quarter was much better with growth in revenues on a sequential and yoy basis. The company posted a net income after reporting a couple of quarters of net loss. The ttm operating margins are around 10% and the company has a net loss of $200 million including the $258 million impairment for extinguishment of debt. A few more good quarters can help it become much stronger and regain the lost momentum. However, growing the topline is not easy in view of the competition in the market. There is direct competition from other outoor advertising giants like Lamar (LAMR) and CBS, and there is competition from other segments of the advertising market. IZEA (IZEA), a company active in the social media sponsorship space, recently reported results of a survey which point to increasing popularity of native advertising. The next quarter results will be important.
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