Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Get Free Report) shot up 5.2% during trading on Tuesday . The company traded as high as $1.51 and last traded at $1.51. 73,156 shares were traded during mid-day trading, a decline of 97% from the average session volume of 2,114,135 shares. The stock had previously closed at $1.43.
Analysts Set New Price Targets
Separately, Barrington Research reissued an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a research report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.16.
Check Out Our Latest Report on CCO
Clear Channel Outdoor Stock Up 1.6 %
Clear Channel Outdoor (NYSE:CCO – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. The firm had revenue of $481.75 million for the quarter, compared to the consensus estimate of $480.69 million. During the same period in the prior year, the company earned ($0.23) EPS. On average, analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.25 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in CCO. SG Americas Securities LLC increased its position in Clear Channel Outdoor by 41.4% during the 4th quarter. SG Americas Securities LLC now owns 202,741 shares of the business services provider’s stock valued at $369,000 after purchasing an additional 59,324 shares during the period. Quadrature Capital Ltd acquired a new stake in Clear Channel Outdoor during the 4th quarter valued at approximately $68,000. Requisite Capital Management LLC increased its position in Clear Channel Outdoor by 100.0% during the 4th quarter. Requisite Capital Management LLC now owns 400,000 shares of the business services provider’s stock valued at $728,000 after purchasing an additional 200,000 shares during the period. Wolverine Asset Management LLC increased its position in Clear Channel Outdoor by 40.7% during the 4th quarter. Wolverine Asset Management LLC now owns 1,390,168 shares of the business services provider’s stock valued at $2,530,000 after purchasing an additional 402,032 shares during the period. Finally, Readystate Asset Management LP increased its position in Clear Channel Outdoor by 64.2% during the 4th quarter. Readystate Asset Management LP now owns 957,401 shares of the business services provider’s stock valued at $1,742,000 after purchasing an additional 374,347 shares during the period. 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.
Featured Stories
- Five stocks we like better than Clear Channel Outdoor
- Ride Out The Recession With These Dividend Kings
- AbbVie Stock: A Perfect Dip for Investors to Buy
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Forget NVIDIA: Super Micro Computer Stock Leads in Momentum
- Using the MarketBeat Dividend Yield Calculator
- GitLab Stock Rebounds: The Inside Story of Its Comeback
Receive News & Ratings for Clear Channel Outdoor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clear Channel Outdoor and related companies with MarketBeat.com's FREE daily email newsletter.