Clear Channel Outdoor (NYSE:CCO) Shares Up 7.6% – What’s Next?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shares rose 7.6% during mid-day trading on Tuesday . The company traded as high as $1.50 and last traded at $1.50. Approximately 1,208,642 shares were traded during trading, an increase of 18% from the average daily volume of 1,020,199 shares. The stock had previously closed at $1.39.

Wall Street Analyst Weigh In

CCO has been the subject of a number of recent research reports. TD Cowen reduced their price target on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research report on Friday, November 1st. Barrington Research reissued an “outperform” rating and set a $2.50 price target on shares of Clear Channel Outdoor in a research report on Thursday, October 31st.

Clear Channel Outdoor Trading Down 1.7 %

The stock has a market capitalization of $687.16 million, a PE ratio of -4.84 and a beta of 3.03. The firm’s fifty day moving average price is $1.41 and its two-hundred day moving average price is $1.50.

Hedge Funds Weigh In On Clear Channel Outdoor

Institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in shares of Clear Channel Outdoor during the 3rd quarter valued at approximately $32,000. Ground Swell Capital LLC purchased a new position in shares of Clear Channel Outdoor during the 3rd quarter valued at approximately $34,000. Stratos Wealth Advisors LLC purchased a new position in shares of Clear Channel Outdoor during the 3rd quarter valued at approximately $40,000. Graham Capital Management L.P. purchased a new stake in Clear Channel Outdoor in the 4th quarter worth $36,000. Finally, Cibc World Markets Corp purchased a new stake in Clear Channel Outdoor in the 4th quarter worth $45,000. 85.52% of the stock is owned by hedge funds and other 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.