Anson Funds Management LP Boosts Stake in Clear Channel Outdoor Holdings, Inc. $CCO

Key Points

• Anson Funds Management LP increased its holdings in Clear Channel Outdoor Holdings, Inc. by 7.8%, making it the firm's 8th largest position, with a total of 18,076,186 shares.
• Clear Channel Outdoor's stock has seen a 6.3% increase, currently trading at $1.2750, with a market capitalization of $633.69 million.
• Insider transactions indicate confidence in the company, as major shareholder Arturo R. Moreno acquired 1,000,000 shares at $1.07 each, raising his stake to approximately 65.6 million shares.

Anson Funds Management LP increased its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,076,186 shares of the business services provider's stock after purchasing an additional 1,310,680 shares during the quarter. Clear Channel Outdoor makes up 3.1% of Anson Funds Management LP's portfolio, making the stock its 8th largest holding. Anson Funds Management LP owned approximately 3.64% of Clear Channel Outdoor worth $20,065,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CCO. Wells Fargo & Company MN boosted its position in Clear Channel Outdoor by 22.9% in the 4th quarter. Wells Fargo & Company MN now owns 246,705 shares of the business services provider's stock valued at $338,000 after buying an additional 46,050 shares during the last quarter. Barclays PLC boosted its position in Clear Channel Outdoor by 11.5% in the 4th quarter. Barclays PLC now owns 580,611 shares of the business services provider's stock valued at $795,000 after buying an additional 59,948 shares during the last quarter. MetLife Investment Management LLC boosted its position in Clear Channel Outdoor by 8.5% in the 4th quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider's stock valued at $242,000 after buying an additional 13,824 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Clear Channel Outdoor by 7.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 376,987 shares of the business services provider's stock valued at $518,000 after acquiring an additional 25,197 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Clear Channel Outdoor by 3.8% during the fourth quarter. Northern Trust Corp now owns 3,205,102 shares of the business services provider's stock worth $4,391,000 after purchasing an additional 117,516 shares in the last quarter. 85.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CCO shares. Barrington Research reissued a "market perform" rating on shares of Clear Channel Outdoor in a research report on Wednesday, July 23rd. Morgan Stanley lowered their price objective on shares of Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $2.04.

Insider Buying and Selling at Clear Channel Outdoor

In other news, major shareholder Arturo R. Moreno purchased 1,000,000 shares of Clear Channel Outdoor stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average cost of $1.07 per share, for a total transaction of $1,070,000.00. Following the purchase, the insider directly owned 65,612,859 shares of the company's stock, valued at $70,205,759.13. This trade represents a 1.55% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 1,517,322 shares of company stock worth $1,632,717 in the last 90 days. 7.70% of the stock is currently owned by company insiders.

Clear Channel Outdoor Stock Down 2.8%

Shares of NYSE:CCO traded down $0.04 during midday trading on Friday, hitting $1.23. The stock had a trading volume of 499,823 shares, compared to its average volume of 2,397,063. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $0.81 and a 12 month high of $1.77. The business's 50-day simple moving average is $1.17 and its 200-day simple moving average is $1.15. The company has a market cap of $608.84 million, a P/E ratio of 30.63 and a beta of 2.65.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its earnings results on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $402.81 million during the quarter, compared to the consensus estimate of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

About Clear Channel Outdoor

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.