Clear Channel Outdoor (NYSE:CCO) Reaches New 52-Week Low – Here’s Why

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s share price hit a new 52-week low on Wednesday . The company traded as low as $1.28 and last traded at $1.29, with a volume of 433942 shares traded. The stock had previously closed at $1.32.

Analyst Ratings Changes

CCO has been the subject of several recent analyst reports. Barrington Research reissued an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research note on Monday. TD Cowen decreased their target price on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research note on Friday, November 1st.

Clear Channel Outdoor Stock Performance

The company has a market cap of $628.47 million, a P/E ratio of -4.43 and a beta of 3.03. The firm has a 50 day moving average price of $1.40 and a 200-day moving average price of $1.50.

Hedge Funds Weigh In On Clear Channel Outdoor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new position in shares of Clear Channel Outdoor in the third quarter valued at about $32,000. Ground Swell Capital LLC purchased a new position in shares of Clear Channel Outdoor in the third quarter worth about $34,000. Graham Capital Management L.P. purchased a new stake in Clear Channel Outdoor in the 4th quarter worth approximately $36,000. Cibc World Markets Corp bought a new stake in Clear Channel Outdoor in the 4th quarter worth approximately $45,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Clear Channel Outdoor during the fourth quarter valued at approximately $53,000. Institutional investors own 85.52% of the company’s stock.

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.