Clear Channel Outdoor (NYSE:CCO) Stock Price Up 5.2%

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shares rose 5.2% during trading on Wednesday . The stock traded as high as $1.61 and last traded at $1.61. Approximately 150,433 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 2,032,280 shares. The stock had previously closed at $1.53.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CCO shares. Wells Fargo & Company lowered shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $2.75 to $1.75 in a research note on Thursday, September 19th. Barrington Research reiterated an “outperform” rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a research report on Monday, August 12th.

Clear Channel Outdoor Stock Up 3.9 %

The business’s 50-day moving average price is $1.54 and its 200 day moving average price is $1.52. The company has a market capitalization of $777.04 million, a P/E ratio of -2.05 and a beta of 3.07.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $558.54 million for the quarter, compared to analysts’ expectations of $563.75 million. Analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Pacific Investment Management sold 46,959 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $1.69, for a total transaction of $79,360.71. Following the completion of the transaction, the insider now owns 104,812,998 shares of the company’s stock, valued at $177,133,966.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.53% of the stock is owned by company insiders.

Institutional Trading of Clear Channel Outdoor

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in Clear Channel Outdoor by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider’s stock valued at $534,000 after acquiring an additional 17,901 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Clear Channel Outdoor by 28.4% during the 2nd quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 17,957 shares during the last quarter. Russell Investments Group Ltd. raised its position in Clear Channel Outdoor by 8.6% in the 1st quarter. Russell Investments Group Ltd. now owns 290,550 shares of the business services provider’s stock worth $479,000 after purchasing an additional 23,067 shares during the period. CCG Wealth Management LLC bought a new stake in Clear Channel Outdoor in the first quarter worth $46,000. Finally, Quadrature Capital Ltd purchased a new stake in Clear Channel Outdoor during the fourth quarter valued at about $68,000. 85.52% of the stock is owned by institutional investors.

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.