7 Best Marketing Stocks to Buy According to Hedge Funds

3. Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Number of Hedge Fund Holders: 32

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) is an outdoor advertising company that provides its services in more than 65 markets and over 55 commercial airports in the United States. The advertising agency helps companies reach the right target audience through its extravagant outdoor campaigns using 2D extensions, 3D props, 3D images, and augmented reality.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) also owns a suite of data solutions that helps businesses plan, optimize, and measure their campaigns. The suite uses anonymous data to infer the success and effectiveness of campaigns. Its outdoor capabilities include roadside billboards, airport advertising displays, and urban street furniture.

The company’s financial results are a reflection of its innovative approach to outdoor advertising. In the second quarter of 2024, the company generated revenue worth $559 billion, up by 5.4%. The revenue growth was primarily driven by growth in America, North Europe, and its Airports segment. Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) also saw growth in its data analytics segment, particularly in the United States. Its Airport segment remained strong, carrying historic momentum, growing at 21% year-over-year.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has strong fundamentals and is working to achieve solid full-year results. The company stands out as a transformative outdoor advertising agency because of its extensive use of data and technology. 32 hedge funds held stakes in CCO at the end of Q2 2024, according to the Insider Monkey database.