Clear Channel Outdoor (NYSE:CCO) Stock Price Up 3.3% – Here’s What Happened

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s share price traded up 3.3% during mid-day trading on Monday . The stock traded as high as $1.41 and last traded at $1.40. 256,983 shares changed hands during trading, a decline of 75% from the average session volume of 1,039,444 shares. The stock had previously closed at $1.35.

Analyst Ratings Changes

CCO has been the topic of several recent analyst reports. Barrington Research restated an “outperform” rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a research note on Monday. TD Cowen reduced their price target 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.

Clear Channel Outdoor Price Performance

The stock has a 50 day moving average price of $1.41 and a two-hundred day moving average price of $1.50. The company has a market capitalization of $672.49 million, a price-to-earnings ratio of -4.74 and a beta of 3.03.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings results on Monday, February 24th. The business services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04).

Institutional Trading of Clear Channel Outdoor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DigitalBridge Group Inc. lifted its position in Clear Channel Outdoor by 2.4% during the 4th quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider’s stock valued at $1,129,000 after purchasing an additional 19,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Clear Channel Outdoor by 32.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 853,179 shares of the business services provider’s stock valued at $1,169,000 after buying an additional 206,696 shares during the period. State of Wyoming boosted its stake in Clear Channel Outdoor by 39.3% in the fourth quarter. State of Wyoming now owns 1,594,464 shares of the business services provider’s stock valued at $2,184,000 after acquiring an additional 450,000 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Clear Channel Outdoor during the 4th quarter worth $548,000. Finally, ProShare Advisors LLC raised its position in shares of Clear Channel Outdoor by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 99,330 shares of the business services provider’s stock valued at $136,000 after acquiring an additional 32,683 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.

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.