Clear Channel Outdoor (NYSE:CCO) Reaches New 52-Week Low – Time to Sell?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.07 and last traded at $1.11, with a volume of 1297721 shares traded. The stock had previously closed at $1.10.

Analyst Ratings Changes

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

Clear Channel Outdoor Trading Down 10.6 %

The company has a market cap of $455.75 million, a P/E ratio of -3.21 and a beta of 3.05. The firm has a 50 day moving average of $1.26 and a 200-day moving average of $1.43.

Hedge Funds Weigh In On Clear Channel Outdoor

Hedge funds have recently modified their holdings of the stock. Graham Capital Management L.P. bought a new stake in Clear Channel Outdoor in the 4th quarter valued at $36,000. Cibc World Markets Corp bought a new stake in shares of Clear Channel Outdoor in the fourth quarter worth about $45,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Clear Channel Outdoor in the fourth quarter worth about $53,000. Jacksonville Wealth Management LLC bought a new position in Clear Channel Outdoor during the fourth quarter valued at approximately $62,000. Finally, Brevan Howard Capital Management LP purchased a new position in Clear Channel Outdoor during the 4th quarter valued at approximately $92,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

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.