Hudson Bay Capital Management LP Sells 1,452,811 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Hudson Bay Capital Management LP lowered its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 36.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 0.52% of Clear Channel Outdoor worth $3,489,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CCO. Diameter Capital Partners LP raised its position in shares of Clear Channel Outdoor by 2,210.5% in the fourth quarter. Diameter Capital Partners LP now owns 10,104,095 shares of the business services provider's stock worth $13,843,000 after buying an additional 9,666,788 shares in the last quarter. Shenkman Capital Management Inc. raised its position in shares of Clear Channel Outdoor by 34.0% in the fourth quarter. Shenkman Capital Management Inc. now owns 2,954,589 shares of the business services provider's stock worth $4,048,000 after buying an additional 750,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Clear Channel Outdoor by 9.0% in the fourth quarter. JPMorgan Chase & Co. now owns 7,371,308 shares of the business services provider's stock worth $10,099,000 after buying an additional 610,110 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Clear Channel Outdoor by 7.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 5,636,000 shares of the business services provider's stock worth $7,721,000 after buying an additional 405,500 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Clear Channel Outdoor by 271.2% in the third quarter. Barclays PLC now owns 520,663 shares of the business services provider's stock worth $833,000 after buying an additional 380,408 shares in the last quarter. Hedge funds and other institutional investors own 85.52% of the company's stock.

Clear Channel Outdoor Trading Down 2.1%

Shares of NYSE:CCO traded down $0.03 during trading on Friday, reaching $1.18. 1,550,396 shares of the company traded hands, compared to its average volume of 1,696,859. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $0.81 and a 52-week high of $1.88. The firm has a market capitalization of $575.82 million, a price-to-earnings ratio of -4.05 and a beta of 2.58. The business's fifty day moving average is $1.06 and its 200-day moving average is $1.31.

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

Analyst Ratings Changes

CCO has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price objective on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Barrington Research downgraded Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 23rd.

Insider Activity at Clear Channel Outdoor

In other news, major shareholder Arturo R. Moreno acquired 2,500,000 shares of the business's stock in a transaction on Friday, April 4th. The shares were acquired at an average cost of $0.97 per share, with a total value of $2,425,000.00. Following the transaction, the insider now owns 54,932,534 shares in the company, valued at $53,284,557.98. The trade was a 4.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott Wells acquired 50,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $1.08 per share, for a total transaction of $54,000.00. Following the completion of the transaction, the chief executive officer now owns 3,392,205 shares in the company, valued at approximately $3,663,581.40. This represents a 1.50% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,947,442 shares of company stock worth $7,709,003 in the last 90 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.