State of Wyoming Decreases Stock Holdings in Clear Channel Outdoor Holdings, Inc. $CCO

State of Wyoming reduced its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 96.5% during the third quarter, Holdings Channel reports. The institutional investor owned 51,768 shares of the business services provider’s stock after selling 1,436,613 shares during the quarter. State of Wyoming’s holdings in Clear Channel Outdoor were worth $82,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Gamco Investors INC. ET AL raised its stake in shares of Clear Channel Outdoor by 16.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,992,175 shares of the business services provider’s stock worth $8,181,000 after acquiring an additional 968,225 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Clear Channel Outdoor by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 6,775,078 shares of the business services provider’s stock worth $7,927,000 after purchasing an additional 59,366 shares during the last quarter. Millennium Management LLC increased its position in shares of Clear Channel Outdoor by 22.9% during the first quarter. Millennium Management LLC now owns 4,893,895 shares of the business services provider’s stock worth $5,432,000 after purchasing an additional 912,632 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Clear Channel Outdoor by 12.7% during the 2nd quarter. Franklin Resources Inc. now owns 4,437,527 shares of the business services provider’s stock valued at $5,192,000 after purchasing an additional 498,318 shares during the last quarter. Finally, Whitebox Advisors LLC boosted its position in shares of Clear Channel Outdoor by 44.7% in the 2nd quarter. Whitebox Advisors LLC now owns 3,233,484 shares of the business services provider’s stock worth $3,783,000 after purchasing an additional 998,984 shares in the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CCO shares. Citigroup upped their target price on Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Wells Fargo & Company increased their price objective on shares of Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 12th. TD Cowen set a $2.50 target price on shares of Clear Channel Outdoor in a research report on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $2.27.

Clear Channel Outdoor Price Performance

Shares of Clear Channel Outdoor stock opened at $2.38 on Friday. The stock has a market cap of $1.18 billion, a PE ratio of -237.50 and a beta of 2.31. The firm has a fifty day moving average price of $2.13 and a 200 day moving average price of $1.73. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $0.81 and a 1 year high of $2.39.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.