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

State of Wyoming boosted its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 39.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 accounts for about 0.3% of State of Wyoming’s portfolio, making the stock its 25th largest position. State of Wyoming owned 0.33% of Clear Channel Outdoor worth $2,184,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CCO. SG Americas Securities LLC grew its holdings in Clear Channel Outdoor by 31.2% during the 4th quarter. SG Americas Securities LLC now owns 294,947 shares of the business services provider’s stock worth $404,000 after acquiring an additional 70,196 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Clear Channel Outdoor by 13.6% in the 4th quarter. Inspire Investing LLC now owns 291,121 shares of the business services provider’s stock valued at $399,000 after purchasing an additional 34,759 shares during the last quarter. Jacksonville Wealth Management LLC bought a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at $62,000. Empowered Funds LLC bought a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at $216,000. Finally, Permanent Capital Management LP bought a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at $477,000. 85.52% of the stock is owned by institutional investors.

Clear Channel Outdoor Trading Down 2.1%

CCO opened at $1.18 on Friday. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $0.81 and a 1-year high of $1.88. The company has a market cap of $575.82 million, a price-to-earnings ratio of -4.05 and a beta of 2.58. The company’s fifty day moving average price is $1.06 and its two-hundred day moving average price is $1.31.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $334.18 million during the quarter, compared to the consensus estimate of $337.70 million.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 2,500,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $0.94 per share, for a total transaction of $2,350,000.00. Following the completion of the transaction, the insider now directly owns 57,432,534 shares of the company’s stock, valued at $53,986,581.96. This trade represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Wells bought 50,000 shares of the business’s stock in a transaction 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 directly owns 3,392,205 shares of the company’s stock, valued at approximately $3,663,581.40. This trade represents a 1.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 7,947,442 shares of company stock worth $7,709,003. 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.