Hudson Bay Capital Management LP Lowers Stock Holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Hudson Bay Capital Management LP lessened its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 36.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,546,987 shares of the business services provider's stock after selling 1,452,811 shares during the period. Hudson Bay Capital Management LP owned about 0.52% of Clear Channel Outdoor worth $3,489,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CCO. Barclays PLC lifted its position in shares of Clear Channel Outdoor by 271.2% during the 3rd quarter. Barclays PLC now owns 520,663 shares of the business services provider's stock valued at $833,000 after buying an additional 380,408 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Clear Channel Outdoor by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider's stock valued at $10,818,000 after purchasing an additional 54,566 shares during the last quarter. SG Americas Securities LLC raised its stake in Clear Channel Outdoor by 31.2% in the 4th quarter. SG Americas Securities LLC now owns 294,947 shares of the business services provider's stock valued at $404,000 after purchasing an additional 70,196 shares during the last quarter. Inspire Investing LLC raised its stake in Clear Channel Outdoor by 13.6% in the 4th quarter. Inspire Investing LLC now owns 291,121 shares of the business services provider's stock valued at $399,000 after purchasing an additional 34,759 shares during the last quarter. Finally, Jacksonville Wealth Management LLC acquired a new position in Clear Channel Outdoor in the 4th quarter valued at $62,000. Hedge funds and other institutional investors own 85.52% of the company's stock.

Insider Buying and Selling

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno acquired 29,289 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $0.94 per share, with a total value of $27,531.66. Following the transaction, the insider now owns 61,445,196 shares of the company's stock, valued at $57,758,484.24. This trade represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Scott Wells acquired 50,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $1.08 per share, with a total value of $54,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,392,205 shares in the company, valued at approximately $3,663,581.40. The trade was a 1.50% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 7,947,442 shares of company stock valued at $7,709,003. 7.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CCO shares. Barrington Research downgraded Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 23rd. Morgan Stanley reduced their price objective on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating for the company in a research note on Thursday, May 1st.

Clear Channel Outdoor Stock Down 2.1%

Shares of CCO traded down $0.03 during midday trading on Friday, reaching $1.18. The company had a trading volume of 1,550,396 shares, compared to its average volume of 1,702,068. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $0.81 and a 1-year high of $1.88. The stock has a market cap of $575.82 million, a PE ratio of -4.05 and a beta of 2.58. The firm has a 50 day simple moving average of $1.06 and a 200-day simple moving average of $1.31.

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

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.