Clear Channel Outdoor (NYSE:CCO) Reaches New 1-Year Low – Here’s Why

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shares reached a new 52-week low on Friday . The stock traded as low as $1.09 and last traded at $1.11, with a volume of 97802 shares traded. The stock had previously closed at $1.12.

Wall Street Analysts Forecast Growth

Separately, Barrington Research restated an “outperform” rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a research note on Monday, February 24th.

Clear Channel Outdoor Stock Down 1.3 %

The business has a 50 day simple moving average of $1.30 and a 200-day simple moving average of $1.45. The company has a market capitalization of $541.51 million, a P/E ratio of -3.81 and a beta of 3.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. DigitalBridge Group Inc. raised its holdings in shares of Clear Channel Outdoor by 2.4% during the fourth quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider’s stock valued at $1,129,000 after buying an additional 19,100 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Clear Channel Outdoor by 32.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 853,179 shares of the business services provider’s stock valued at $1,169,000 after acquiring an additional 206,696 shares in the last quarter. State of Wyoming boosted its position in Clear Channel Outdoor by 39.3% during the 4th quarter. State of Wyoming now owns 1,594,464 shares of the business services provider’s stock worth $2,184,000 after acquiring an additional 450,000 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Clear Channel Outdoor in the fourth quarter worth $548,000. Finally, ProShare Advisors LLC increased its holdings in shares of Clear Channel Outdoor by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 99,330 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 32,683 shares during the period. 85.52% of the stock is owned by institutional investors and hedge funds.

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.