Clear Channel Outdoor Holdings, Inc. $CCO Shares Purchased by State of Wyoming

Key Points

• The State of Wyoming increased its stake in Clear Channel Outdoor Holdings by 33.6% in Q1, owning 2,129,780 shares valued at approximately $2.36 million.
• Several hedge funds also boosted their holdings in the company, with Anson Funds Management LP increasing its stake by 7.8%, now holding over 18 million shares.
• Clear Channel Outdoor reported a quarterly revenue of $402.81 million, meeting expectations, and continues to receive mixed ratings from analysts with a current average price target of $2.04.

State of Wyoming increased its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 33.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,129,780 shares of the business services provider's stock after purchasing an additional 535,316 shares during the period. Clear Channel Outdoor accounts for 0.3% of State of Wyoming's investment portfolio, making the stock its 23rd biggest position. State of Wyoming owned about 0.43% of Clear Channel Outdoor worth $2,364,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL grew its position in Clear Channel Outdoor by 6.9% during the first quarter. Gamco Investors INC. ET AL now owns 6,023,950 shares of the business services provider's stock valued at $6,687,000 after acquiring an additional 387,950 shares during the period. Gabelli Funds LLC grew its position in Clear Channel Outdoor by 2.4% during the first quarter. Gabelli Funds LLC now owns 3,085,000 shares of the business services provider's stock valued at $3,424,000 after acquiring an additional 71,076 shares during the period. Anson Funds Management LP grew its position in Clear Channel Outdoor by 7.8% during the first quarter. Anson Funds Management LP now owns 18,076,186 shares of the business services provider's stock valued at $20,065,000 after acquiring an additional 1,310,680 shares during the period. Penn Capital Management Company LLC grew its position in Clear Channel Outdoor by 10.7% during the first quarter. Penn Capital Management Company LLC now owns 5,661,348 shares of the business services provider's stock valued at $6,291,000 after acquiring an additional 547,282 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in Clear Channel Outdoor during the first quarter valued at about $31,000. Hedge funds and other institutional investors own 85.52% of the company's stock.

Insider Activity at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno purchased 1,000,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $1.07 per share, for a total transaction of $1,070,000.00. Following the completion of the purchase, the insider owned 65,612,859 shares in the company, valued at $70,205,759.13. The trade was a 1.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 1,517,322 shares of company stock valued at $1,632,717 in the last 90 days. Insiders own 7.20% of the company's stock.

Analysts Set New Price Targets

Separately, Barrington Research restated a "market perform" rating on shares of Clear Channel Outdoor in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $2.04.

Clear Channel Outdoor Stock Performance

Shares of NYSE:CCO traded down $0.03 during trading on Monday, hitting $1.24. The company's stock had a trading volume of 1,763,832 shares, compared to its average volume of 3,427,407. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $0.81 and a fifty-two week high of $1.77. The stock's 50-day moving average price is $1.17 and its two-hundred day moving average price is $1.14. The company has a market capitalization of $613.81 million, a PE ratio of 30.88 and a beta of 2.61.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The business services provider reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $402.81 million during the quarter, compared to analyst estimates 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.