Clear Channel Outdoor Holdings, Inc. $CCO Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP cut its holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 34.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,569,163 shares of the business services provider’s stock after selling 1,889,301 shares during the quarter. Readystate Asset Management LP’s holdings in Clear Channel Outdoor were worth $5,639,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Sanders Morris Harris LLC purchased a new position in shares of Clear Channel Outdoor in the 3rd quarter valued at approximately $25,000. CWM LLC increased its stake in Clear Channel Outdoor by 97.9% during the 3rd quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 8,248 shares in the last quarter. Burney Co. acquired a new position in Clear Channel Outdoor during the 3rd quarter valued at approximately $32,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Clear Channel Outdoor by 106.8% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,811 shares of the business services provider’s stock worth $49,000 after buying an additional 15,911 shares during the last quarter. Finally, Jacksonville Wealth Management LLC acquired a new stake in shares of Clear Channel Outdoor during the third quarter worth $71,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Price Performance

Shares of CCO opened at $2.39 on Wednesday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -239.00 and a beta of 2.31. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $0.81 and a 52 week high of $2.39. The stock’s 50-day moving average price is $2.15 and its 200-day moving average price is $1.76.

Analyst Ratings Changes

Several research firms recently issued reports on CCO. Wall Street Zen downgraded Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Citigroup increased their price objective on Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Monday, December 29th. TD Cowen set a $2.50 target price on Clear Channel Outdoor in a research report on Tuesday, February 10th. Finally, Morgan Stanley set a $2.00 price target on shares of Clear Channel Outdoor in a report on Monday, November 10th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Clear Channel Outdoor presently has a consensus rating of “Reduce” and an average price target of $2.27.

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.