State of Wyoming Has $2.18 Million Stock Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

State of Wyoming increased its position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 39.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,594,464 shares of the business services provider's stock after acquiring an additional 450,000 shares during the quarter. Clear Channel Outdoor comprises about 0.3% of State of Wyoming's investment portfolio, making the stock its 25th largest position. State of Wyoming owned approximately 0.33% of Clear Channel Outdoor worth $2,184,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Diameter Capital Partners LP lifted its stake in 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 valued at $13,843,000 after buying an additional 9,666,788 shares during the period. Shenkman Capital Management Inc. lifted its stake in 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 valued at $4,048,000 after buying an additional 750,000 shares during the period. JPMorgan Chase & Co. lifted its stake in 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 valued at $10,099,000 after buying an additional 610,110 shares during the period. Gamco Investors INC. ET AL lifted its stake in 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 valued at $7,721,000 after buying an additional 405,500 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Clear Channel Outdoor in the fourth quarter valued at about $548,000. Institutional investors and hedge funds own 85.52% of the company's stock.

Insider Activity at Clear Channel Outdoor

In other news, CEO Scott Wells bought 50,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $1.08 per share, with a total value of $54,000.00. Following the transaction, the chief executive officer now owns 3,392,205 shares in the company, valued at $3,663,581.40. This represents a 1.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Arturo R. Moreno bought 2,500,000 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $0.97 per share, for a total transaction 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 disclosure for this purchase can be found here. In the last quarter, insiders have bought 7,947,442 shares of company stock valued at $7,709,003. 7.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CCO. Barrington Research lowered Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 23rd. Morgan Stanley cut their price objective on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating on the stock in a report on Thursday, May 1st.

Clear Channel Outdoor Trading Down 4.7%

Shares of NYSE:CCO traded down $0.06 during trading on Wednesday, hitting $1.12. 1,689,704 shares of the company's stock traded hands, compared to its average volume of 1,694,677. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $1.88. The company has a market cap of $553.84 million, a price-to-earnings ratio of -3.84 and a beta of 2.58. The company has a 50-day moving average price of $1.06 and a 200-day moving average price of $1.31.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its quarterly earnings data 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 business had revenue of $334.18 million for the quarter, compared to the consensus estimate 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.