Fore Capital LLC Sells 380,000 Shares of Clear Channel Outdoor Holdings, Inc. $CCO

Fore Capital LLC cut its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 92.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the business services provider’s stock after selling 380,000 shares during the period. Fore Capital LLC’s holdings in Clear Channel Outdoor were worth $66,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. State of Wyoming grew its position in Clear Channel Outdoor by 334.6% during the 4th quarter. State of Wyoming now owns 224,971 shares of the business services provider’s stock worth $497,000 after acquiring an additional 173,203 shares during the last quarter. CIBC Asset Management Inc grew its position in Clear Channel Outdoor by 181.3% during the 4th quarter. CIBC Asset Management Inc now owns 44,347 shares of the business services provider’s stock worth $98,000 after acquiring an additional 28,581 shares during the last quarter. Geode Capital Management LLC grew its position in Clear Channel Outdoor by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,738,107 shares of the business services provider’s stock worth $8,265,000 after acquiring an additional 14,859 shares during the last quarter. Penn Capital Management Company LLC bought a new stake in Clear Channel Outdoor during the 4th quarter worth approximately $624,000. Finally, Jefferies Financial Group Inc. grew its position in Clear Channel Outdoor by 110.2% during the 4th quarter. Jefferies Financial Group Inc. now owns 60,106 shares of the business services provider’s stock worth $133,000 after acquiring an additional 31,506 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors.

Clear Channel Outdoor Stock Down 0.2%

CCO stock opened at $2.41 on Friday. The business’s fifty day moving average is $2.39 and its 200-day moving average is $2.25. The company has a market cap of $1.22 billion, a P/E ratio of -13.36 and a beta of 1.96. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $1.00 and a twelve month high of $2.43.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $373.86 million during the quarter, compared to the consensus estimate of $348.71 million. Research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CCO. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Friday, March 27th. TD Cowen reaffirmed a “hold” rating and set a $2.43 price objective (down from $2.50) on shares of Clear Channel Outdoor in a report on Monday, April 6th. Finally, Wells Fargo & Company upped their price objective on Clear Channel Outdoor from $2.00 to $2.43 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $2.29.

About Clear Channel Outdoor

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.