Clear Channel Outdoor (NYSE:CCO) Shares Down 3.9% – Here’s Why

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) were down 3.9% during trading on Thursday . The company traded as low as $1.46 and last traded at $1.46. Approximately 134,693 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,206,443 shares. The stock had previously closed at $1.52.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CCO shares. TD Cowen cut their price objective on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a research report on Friday, November 1st. Barrington Research restated an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.16.

Clear Channel Outdoor Stock Up 2.4 %

The firm has a market capitalization of $731.17 million, a price-to-earnings ratio of -5.16 and a beta of 3.04. The stock’s fifty day moving average is $1.49 and its two-hundred day moving average is $1.54.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 250,000 shares of Clear Channel Outdoor stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $1.45 per share, with a total value of $362,500.00. Following the completion of the transaction, the insider now owns 52,182,534 shares in the company, valued at $75,664,674.30. The trade was a 0.48 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Clear Channel Outdoor

A number of institutional investors have recently modified their holdings of the business. XTX Topco Ltd boosted its position in shares of Clear Channel Outdoor by 28.4% in the second quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 17,957 shares during the period. Crewe Advisors LLC bought a new stake in shares of Clear Channel Outdoor in the third quarter valued at about $32,000. Ground Swell Capital LLC bought a new stake in shares of Clear Channel Outdoor in the third quarter valued at about $34,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Clear Channel Outdoor during the third quarter worth about $34,000. Finally, Stratos Wealth Advisors LLC bought a new stake in Clear Channel Outdoor during the third quarter worth about $40,000. 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.