Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Position Lifted by Shenkman Capital Management Inc.

Shenkman Capital Management Inc. grew its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Free Report) by 34.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,954,589 shares of the business services provider's stock after acquiring an additional 750,000 shares during the period. Shenkman Capital Management Inc. owned about 0.60% of Clear Channel Outdoor worth $4,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in shares of Clear Channel Outdoor in the 3rd quarter worth about $32,000. Dynamic Technology Lab Private Ltd acquired a new stake in Clear Channel Outdoor during the third quarter worth about $65,000. Jacksonville Wealth Management LLC bought a new position in Clear Channel Outdoor in the fourth quarter worth about $62,000. Intech Investment Management LLC acquired a new position in Clear Channel Outdoor in the third quarter valued at approximately $107,000. Finally, Empowered Funds LLC bought a new position in shares of Clear Channel Outdoor during the fourth quarter valued at approximately $216,000. Institutional investors own 85.52% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research reissued an "outperform" rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a report on Monday, February 24th.

Clear Channel Outdoor Stock Down 8.0 %

CCO stock opened at $1.10 on Friday. The firm's 50-day simple moving average is $1.38 and its 200 day simple moving average is $1.48. The stock has a market cap of $536.61 million, a PE ratio of -3.78 and a beta of 3.05. Clear Channel Outdoor Holdings, Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $1.88.

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.

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