Clear Channel Outdoor Holdings, Inc. $CCO Holdings Lowered by Contrarian Capital Management L.L.C.

Contrarian Capital Management L.L.C. trimmed its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,452,614 shares of the business services provider’s stock after selling 145,000 shares during the period. Clear Channel Outdoor comprises about 0.4% of Contrarian Capital Management L.L.C.’s holdings, making the stock its 19th biggest holding. Contrarian Capital Management L.L.C. owned 0.30% of Clear Channel Outdoor worth $1,612,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Anson Funds Management LP raised its position in Clear Channel Outdoor by 7.8% during the first quarter. Anson Funds Management LP now owns 18,076,186 shares of the business services provider’s stock valued at $20,065,000 after buying an additional 1,310,680 shares during the period. Diameter Capital Partners LP raised its position in Clear Channel Outdoor by 2,210.5% during the fourth quarter. Diameter Capital Partners LP now owns 10,104,095 shares of the business services provider’s stock valued at $13,843,000 after buying an additional 9,666,788 shares during the period. Readystate Asset Management LP raised its position in Clear Channel Outdoor by 37.9% during the first quarter. Readystate Asset Management LP now owns 6,267,547 shares of the business services provider’s stock valued at $6,957,000 after buying an additional 1,723,417 shares during the period. Gamco Investors INC. ET AL raised its position in Clear Channel Outdoor by 6.9% during the first quarter. Gamco Investors INC. ET AL now owns 6,023,950 shares of the business services provider’s stock valued at $6,687,000 after buying an additional 387,950 shares during the period. Finally, Penn Capital Management Company LLC raised its position in Clear Channel Outdoor by 10.7% during the first quarter. Penn Capital Management Company LLC now owns 5,661,348 shares of the business services provider’s stock valued at $6,291,000 after buying an additional 547,282 shares during the period. 85.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $1.07 per share, with a total value of $1,070,000.00. Following the acquisition, the insider directly owned 65,612,859 shares of the company’s stock, valued at approximately $70,205,759.13. This trade represents a 1.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders acquired 1,517,322 shares of company stock worth $1,632,717. Company insiders own 7.20% of the company’s stock.

Clear Channel Outdoor Stock Down 0.4%

Shares of NYSE:CCO opened at $1.26 on Wednesday. The business has a 50 day moving average price of $1.17 and a 200 day moving average price of $1.15. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $0.81 and a twelve month high of $1.77. The company has a market cap of $623.75 million, a price-to-earnings ratio of 31.38 and a beta of 2.65.

Clear Channel Outdoor (NYSE:CCO) last announced its earnings results on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $402.81 million for the quarter, compared to the consensus estimate of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CCO. Barrington Research reissued a “market perform” rating on shares of Clear Channel Outdoor in a research report on Wednesday, July 23rd. Morgan Stanley dropped their target price on Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $2.04.

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.