Clear Channel Outdoor (NYSE:CCO) Sets New 12-Month High – Still a Buy?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $2.0350 and last traded at $2.0150, with a volume of 1533753 shares. The stock had previously closed at $1.99.

Analyst Ratings Changes

A number of research firms recently commented on CCO. Wells Fargo & Company increased their target price on shares of Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Monday, November 24th. TD Cowen boosted their target price on Clear Channel Outdoor from $2.50 to $2.80 and gave the stock a “buy” rating in a research note on Monday, October 20th. Citigroup upped their price objective on shares of Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, Cowen restated a “buy” rating on shares of Clear Channel Outdoor in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Clear Channel Outdoor currently has an average rating of “Hold” and an average price target of $2.32.

Clear Channel Outdoor Stock Performance

The stock’s 50-day moving average is $1.71 and its two-hundred day moving average is $1.37. The stock has a market cap of $997.10 million, a PE ratio of 50.14 and a beta of 2.63.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings results on Thursday, November 6th. The business services provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $405.64 million for the quarter, compared to analyst estimates of $402.03 million. Clear Channel Outdoor has set its Q4 2025 guidance at EPS.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Ares Management Llc sold 13,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $1.13, for a total transaction of $14,690,000.00. Following the transaction, the insider owned 41,197,491 shares in the company, valued at approximately $46,553,164.83. The trade was a 23.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clear Channel Outdoor

Several institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd increased its holdings in Clear Channel Outdoor by 20.7% during the 1st quarter. XTX Topco Ltd now owns 100,929 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 17,292 shares in the last quarter. Swiss National Bank grew its position in shares of Clear Channel Outdoor by 9.5% in the first quarter. Swiss National Bank now owns 473,800 shares of the business services provider’s stock valued at $526,000 after purchasing an additional 41,000 shares during the last quarter. Nuveen LLC purchased a new position in shares of Clear Channel Outdoor during the 1st quarter worth approximately $1,612,000. Russell Investments Group Ltd. raised its position in shares of Clear Channel Outdoor by 28.6% during the 1st quarter. Russell Investments Group Ltd. now owns 546,947 shares of the business services provider’s stock worth $607,000 after purchasing an additional 121,578 shares during the last quarter. Finally, Zazove Associates LLC lifted its stake in Clear Channel Outdoor by 13.7% in the 1st quarter. Zazove Associates LLC now owns 2,094,793 shares of the business services provider’s stock valued at $2,325,000 after buying an additional 252,018 shares in the last quarter. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

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.