Anson Funds Management LP Sells 623,748 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Anson Funds Management LP trimmed its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,765,506 shares of the business services provider’s stock after selling 623,748 shares during the period. Clear Channel Outdoor makes up about 2.3% of Anson Funds Management LP’s holdings, making the stock its 10th largest holding. Anson Funds Management LP owned approximately 3.43% of Clear Channel Outdoor worth $22,969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Whitebox Advisors LLC lifted its holdings in Clear Channel Outdoor by 2.6% during the 4th quarter. Whitebox Advisors LLC now owns 1,854,586 shares of the business services provider’s stock worth $2,541,000 after buying an additional 47,100 shares during the last quarter. Third Point LLC increased its stake in shares of Clear Channel Outdoor by 5.9% during the fourth quarter. Third Point LLC now owns 900,000 shares of the business services provider’s stock worth $1,233,000 after acquiring an additional 50,000 shares during the period. Voleon Capital Management LP acquired a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $303,000. Northern Trust Corp grew its stake in shares of Clear Channel Outdoor by 3.8% during the 4th quarter. Northern Trust Corp now owns 3,205,102 shares of the business services provider’s stock worth $4,391,000 after purchasing an additional 117,516 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Clear Channel Outdoor by 7.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 376,987 shares of the business services provider’s stock valued at $518,000 after buying an additional 25,197 shares in the last quarter. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Clear Channel Outdoor Trading Up 3.8 %

NYSE:CCO opened at $1.08 on Friday. The firm has a market cap of $529.26 million, a price-to-earnings ratio of -3.72 and a beta of 2.72. The company has a 50-day moving average of $1.09 and a 200-day moving average of $1.34. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $0.81 and a twelve month high of $1.88.

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

Insider Activity at Clear Channel Outdoor

In other news, major shareholder Arturo R. Moreno bought 83,378 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The stock was acquired at an average price of $1.02 per share, for a total transaction of $85,045.56. Following the transaction, the insider now directly owns 62,227,107 shares of the company’s stock, valued at $63,471,649.14. This trade represents a 0.13 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders purchased 7,350,634 shares of company stock worth $7,065,918. Company insiders own 7.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CCO shares. Morgan Stanley cut their price target on Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating for the company in a report on Thursday. Barrington Research lowered shares of Clear Channel Outdoor from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 23rd.

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.