Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) is Anson Funds Management LP's 10th Largest Position

Anson Funds Management LP lessened its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,765,506 shares of the business services provider's stock after selling 623,748 shares during the quarter. Clear Channel Outdoor makes up about 2.3% of Anson Funds Management LP's portfolio, making the stock its 10th biggest position. Anson Funds Management LP owned approximately 3.43% of Clear Channel Outdoor worth $22,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cibc World Markets Corp bought a new stake in Clear Channel Outdoor during the fourth quarter valued at about $45,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Clear Channel Outdoor during the fourth quarter valued at about $53,000. Jacksonville Wealth Management LLC purchased a new position in shares of Clear Channel Outdoor in the 4th quarter worth approximately $62,000. ClearAlpha Technologies LP purchased a new stake in Clear Channel Outdoor during the fourth quarter valued at approximately $135,000. Finally, Intech Investment Management LLC grew its holdings in Clear Channel Outdoor by 114.4% in the fourth quarter. Intech Investment Management LLC now owns 143,413 shares of the business services provider's stock worth $196,000 after purchasing an additional 76,536 shares during the last quarter. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCO has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Barrington Research cut Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 23rd.

Clear Channel Outdoor Price Performance

Shares of CCO remained flat at $1.10 during trading hours on Thursday. 992,126 shares of the stock were exchanged, compared to its average volume of 1,686,596. The stock has a 50-day simple moving average of $1.08 and a two-hundred day simple moving average of $1.33. Clear Channel Outdoor Holdings, Inc. has a 12-month low of $0.81 and a 12-month high of $1.88. The company has a market capitalization of $539.06 million, a PE ratio of -3.79 and a beta of 2.58.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The business services provider reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The firm had revenue of $334.18 million for the quarter, compared to analysts' expectations of $337.70 million.

Insider Buying and Selling

In related news, major shareholder Arturo R. Moreno purchased 325,567 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average price of $1.07 per share, with a total value of $348,356.69. Following the purchase, the insider now owns 62,552,674 shares of the company's stock, valued at $66,931,361.18. The trade was a 0.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 7,676,201 shares of company stock valued at $7,414,275 over the last ninety days. Company insiders own 7.70% of the company's stock.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.