State of Wyoming Purchases 450,000 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

State of Wyoming grew its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 39.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,594,464 shares of the business services provider's stock after buying an additional 450,000 shares during the period. Clear Channel Outdoor makes up 0.3% of State of Wyoming's portfolio, making the stock its 25th biggest position. State of Wyoming owned approximately 0.33% of Clear Channel Outdoor worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Graham Capital Management L.P. bought a new position in Clear Channel Outdoor during the fourth quarter worth about $36,000. Cibc World Markets Corp acquired a new position in Clear Channel Outdoor in the 4th quarter worth $45,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at about $53,000. Jacksonville Wealth Management LLC bought a new position in shares of Clear Channel Outdoor during the fourth quarter worth about $62,000. Finally, Brevan Howard Capital Management LP bought a new stake in Clear Channel Outdoor in the 4th quarter valued at approximately $92,000. 85.52% of the stock is owned by institutional investors.

Clear Channel Outdoor Price Performance

NYSE CCO traded down $0.04 on Friday, hitting $1.08. 506,127 shares of the stock were exchanged, compared to its average volume of 1,704,541. The company has a market capitalization of $533.97 million, a PE ratio of -3.71 and a beta of 2.58. The business's fifty day moving average is $1.06 and its 200 day moving average is $1.30. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $1.88.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its 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 firm had revenue of $334.18 million during the quarter, compared to the consensus estimate of $337.70 million.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CCO. Barrington Research downgraded shares of 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 target on 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.

Insider Activity at Clear Channel Outdoor

In related news, CEO Scott Wells acquired 50,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was 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 directly owns 3,392,205 shares of the company's stock, valued at approximately $3,663,581.40. The trade was a 1.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Arturo R. Moreno acquired 2,500,000 shares of Clear Channel Outdoor stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $0.94 per share, with a total value of $2,350,000.00. Following the acquisition, the insider now owns 57,432,534 shares of the company's stock, valued at approximately $53,986,581.96. This trade represents a 4.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 7,947,442 shares of company stock worth $7,709,003. Company insiders own 7.70% of the company's stock.

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.