Anson Funds Management LP Has $27.82 Million Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Anson Funds Management LP trimmed its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,389,254 shares of the business services provider's stock after selling 426,252 shares during the period. Clear Channel Outdoor accounts for approximately 1.2% of Anson Funds Management LP's holdings, making the stock its 17th largest position. Anson Funds Management LP owned about 3.56% of Clear Channel Outdoor worth $27,823,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CCO. Crewe Advisors LLC acquired a new stake in Clear Channel Outdoor in the 3rd quarter worth $32,000. CarsonAllaria Wealth Management Ltd. bought a new position in Clear Channel Outdoor in the third quarter worth $34,000. Ground Swell Capital LLC acquired a new stake in Clear Channel Outdoor during the third quarter worth $34,000. Stratos Wealth Advisors LLC bought a new stake in Clear Channel Outdoor in the third quarter valued at about $40,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Clear Channel Outdoor in the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 85.52% of the company's stock.

Insider Buying and Selling at Clear Channel Outdoor

In related news, major shareholder Arturo R. Moreno bought 250,000 shares of the business's stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $1.45 per share, with a total value of $362,500.00. Following the completion of the purchase, the insider now owns 52,182,534 shares of the company's stock, valued at $75,664,674.30. This represents a 0.48 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.53% of the company's stock.

Analysts Set New Price Targets

CCO has been the subject of several recent analyst reports. TD Cowen dropped their price objective on Clear Channel Outdoor from $2.60 to $2.40 and set a "buy" rating for the company in a research note on Friday, November 1st. Wells Fargo & Company cut Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $2.75 to $1.75 in a report on Thursday, September 19th. Finally, Barrington Research restated an "outperform" rating and set a $2.50 target price on shares of Clear Channel Outdoor in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Clear Channel Outdoor presently has a consensus rating of "Hold" and a consensus target price of $2.16.

Clear Channel Outdoor Price Performance

Shares of CCO stock traded up $0.01 on Friday, reaching $1.56. 916,179 shares of the stock were exchanged, compared to its average volume of 1,053,183. The stock has a 50 day moving average price of $1.56 and a 200 day moving average price of $1.53. The stock has a market cap of $762.96 million, a PE ratio of -5.38 and a beta of 3.05. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.29 and a one year high of $2.06.

Clear Channel Outdoor Company Profile

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.