Clear Channel Outdoor (NYSE:CCO) Stock Price Down 3.5% – Time to Sell?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shares fell 3.5% on Tuesday . The company traded as low as $2.03 and last traded at $2.0750. 969,215 shares were traded during mid-day trading, a decline of 64% from the average session volume of 2,710,128 shares. The stock had previously closed at $2.15.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CCO. Wells Fargo & Company boosted their price target on Clear Channel Outdoor from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 12th. Morgan Stanley set a $2.00 price objective on Clear Channel Outdoor in a report on Monday, November 10th. TD Cowen increased their price target on Clear Channel Outdoor from $2.50 to $2.80 and gave the company a “buy” rating in a report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Monday, December 22nd. Finally, Citigroup increased their price objective on shares of Clear Channel Outdoor from $1.35 to $2.10 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Two investment 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 data from MarketBeat.com, Clear Channel Outdoor presently has an average rating of “Hold” and a consensus price target of $2.32.

Clear Channel Outdoor Stock Performance

The stock has a 50-day moving average price of $1.96 and a two-hundred day moving average price of $1.51. The stock has a market capitalization of $1.05 billion, a PE ratio of -210.50 and a beta of 2.27.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results on Thursday, November 6th. The business services provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $405.64 million for the quarter, compared to the consensus estimate of $402.03 million.

Institutional Investors Weigh In On Clear Channel Outdoor

Institutional investors and hedge funds have recently bought and sold shares of the business. Sanders Morris Harris LLC purchased a new position in shares of Clear Channel Outdoor in the third quarter worth $25,000. CWM LLC increased its holdings in Clear Channel Outdoor by 97.9% in the 3rd quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 8,248 shares during the last quarter. Burney Co. purchased a new stake in Clear Channel Outdoor in the 3rd quarter worth $32,000. Zacks Investment Management bought a new position in shares of Clear Channel Outdoor during the 3rd quarter valued at about $36,000. Finally, Advisors Capital Management LLC grew its position in shares of Clear Channel Outdoor by 91.7% during the third quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 11,000 shares in the last quarter. 85.52% of the stock is owned by institutional investors.

About Clear Channel Outdoor

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.