State of Wyoming Cuts Stake in Clear Channel Outdoor Holdings, Inc. $CCO

State of Wyoming cut its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 96.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,768 shares of the business services provider’s stock after selling 1,436,613 shares during the period. State of Wyoming’s holdings in Clear Channel Outdoor were worth $82,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sanders Morris Harris LLC bought a new stake in shares of Clear Channel Outdoor during the third quarter valued at approximately $25,000. CWM LLC grew its stake in Clear Channel Outdoor by 97.9% during the third quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 8,248 shares in the last quarter. Burney Co. bought a new stake in Clear Channel Outdoor in the 3rd quarter valued at $32,000. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Clear Channel Outdoor by 106.8% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,811 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 15,911 shares during the last quarter. Finally, Jacksonville Wealth Management LLC purchased a new stake in Clear Channel Outdoor in the 3rd quarter worth $71,000. 85.52% of the stock is owned by hedge funds and other institutional investors.

Clear Channel Outdoor Stock Up 0.2%

Shares of Clear Channel Outdoor stock opened at $2.38 on Friday. The stock’s fifty day moving average is $2.13 and its two-hundred day moving average is $1.73. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $2.39. The company has a market capitalization of $1.18 billion, a PE ratio of -237.50 and a beta of 2.31.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citigroup lifted their target price on Clear Channel Outdoor from $1.35 to $2.10 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. TD Cowen set a $2.50 price target on Clear Channel Outdoor in a report on Tuesday. Wall Street Zen cut Clear Channel Outdoor from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Morgan Stanley set a $2.00 price target on shares of Clear Channel Outdoor in a report on Monday, November 10th. Finally, Zacks Research lowered shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $2.27.

Clear Channel Outdoor 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.