• Insider Ownership at Clear Channel Outdoor and the Public Out of Home Companies

    Clear Channel stock has risen 16% to $2.60 in two days on news that managers and directors are buying shares.  Americas CEO Scott Wells, CFO Brian Coleman and Board Member Ben Moreland bought shares two days ago.  CFO Brian Coleman and Board Member Andrew Hobson bought shares yesterday.  The purchases signal Clear Channel management has confidence in the company and the purchases align management’s financial incentives with stockholder incentives.

    Here’s a table of insider stock ownership (e.g. shares owned by execs and board members) of Class A equity shares for the US public out of home companies.  Clear Channel insiders had less skin in the game than managers at the other public out of home companies.  This is changing and it’s a good thing.

    Insider ownership as a % of total public equity class A shares for US public out of home companies.

    Boston Omaha     16.78%

    Lamar     0.82%

    Outfront     0.72%

    Clear Channel Outdoor     0.19%

    Source:  Yahoo Finance, August 20, 2019

    Insider notes that this calculation is only based on Class A Shares of each company.  The analysis undercounts insider ownership when a company issues multiple classes of common stock.  Insider will compute an updated analysis based on all classes of of stock next week.

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