Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Given Consensus Rating of “Reduce” by Brokerages

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have been given a consensus rating of “Reduce” by the six ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $2.2920.

Several equities analysts have issued reports on CCO shares. TD Cowen restated a “hold” rating and issued a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a research report on Monday, April 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Wednesday, June 24th.

Insider Transactions at Clear Channel Outdoor

In related news, Director Raymond T. White sold 23,435,796 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $2.40, for a total transaction of $56,245,910.40. Following the completion of the transaction, the director directly owned 187,371 shares of the company’s stock, valued at $449,690.40. This trade represents a 99.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 26,239,967 shares of company stock worth $62,975,921. 7.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clear Channel Outdoor

Institutional investors and hedge funds have recently made changes to their positions in the stock. 140 Summer Partners LP acquired a new position in shares of Clear Channel Outdoor in the fourth quarter worth approximately $8,806,000. Barclays PLC raised its holdings in Clear Channel Outdoor by 3,017.0% during the 3rd quarter. Barclays PLC now owns 4,109,743 shares of the business services provider’s stock worth $6,493,000 after purchasing an additional 3,977,895 shares during the last quarter. Occam Crest Management LP raised its holdings in Clear Channel Outdoor by 423.7% during the 4th quarter. Occam Crest Management LP now owns 3,404,300 shares of the business services provider’s stock worth $7,524,000 after purchasing an additional 2,754,300 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Clear Channel Outdoor in the 4th quarter worth approximately $5,925,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Clear Channel Outdoor in the 3rd quarter worth approximately $3,613,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

Shares of NYSE CCO opened at $2.40 on Thursday. Clear Channel Outdoor has a 52 week low of $1.00 and a 52 week high of $2.43. The stock’s fifty day moving average is $2.41 and its 200 day moving average is $2.35. The stock has a market capitalization of $1.22 billion, a P/E ratio of -13.36 and a beta of 1.95.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $373.86 million during the quarter, compared to the consensus estimate of $348.71 million. Equities research analysts forecast that Clear Channel Outdoor will post -0.06 earnings per share for the current year.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.