New York State Common Retirement Fund Trims Stock Holdings in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

New York State Common Retirement Fund cut its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 8.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,308,438 shares of the business services provider’s stock after selling 307,160 shares during the quarter. New York State Common Retirement Fund’s holdings in Clear Channel Outdoor were worth $6,021,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of Clear Channel Outdoor by 19.9% in the 3rd quarter. SG Americas Securities LLC now owns 143,417 shares of the business services provider’s stock worth $227,000 after buying an additional 23,756 shares during the last quarter. Optas LLC acquired a new position in Clear Channel Outdoor in the 3rd quarter worth about $27,000. Requisite Capital Management LLC acquired a new position in Clear Channel Outdoor during the third quarter worth $316,000. Principal Financial Group Inc. raised its position in shares of Clear Channel Outdoor by 39.2% during the 3rd quarter. Principal Financial Group Inc. now owns 55,130 shares of the business services provider’s stock worth $87,000 after purchasing an additional 15,511 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in Clear Channel Outdoor by 3,466.3% in the 3rd quarter. Quantbot Technologies LP now owns 126,213 shares of the business services provider’s stock valued at $199,000 after purchasing an additional 122,674 shares in the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Price Performance

Shares of CCO opened at $1.50 on Friday. The firm has a fifty day moving average price of $1.61 and a 200 day moving average price of $1.57. The stock has a market cap of $725.58 million, a PE ratio of -2.31 and a beta of 2.91. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $0.99 and a 1-year high of $2.06.

Clear Channel Outdoor (NYSE:CCO) last announced its earnings results on Monday, February 26th. The business services provider reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $632.11 million during the quarter, compared to analysts’ expectations of $611.62 million. During the same quarter last year, the business posted $0.24 earnings per share. As a group, equities analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CCO shares. Morgan Stanley lifted their price objective on Clear Channel Outdoor from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. StockNews.com raised shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research report on Friday, February 16th. Finally, Barrington Research reissued an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Clear Channel Outdoor currently has a consensus rating of “Hold” and an average target price of $2.16.

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.