Clear Channel Outdoor (NYSE:CCO) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.65 and traded as high as $2.04. Clear Channel Outdoor shares last traded at $2.0350, with a volume of 1,302,976 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Zacks Research cut shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. TD Cowen restated a “buy” rating on shares of Clear Channel Outdoor in a research note on Monday, October 20th. Morgan Stanley set a $2.00 price target on shares of Clear Channel Outdoor in a research note on Monday, November 10th. Wall Street Zen lowered Clear Channel Outdoor from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Wells Fargo & Company raised their price objective on Clear Channel Outdoor from $1.50 to $2.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $2.32.

Clear Channel Outdoor Stock Performance

The firm has a market capitalization of $1.01 billion, a PE ratio of -203.50 and a beta of 2.26. The stock has a fifty day moving average price of $2.05 and a 200-day moving average price of $1.65.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings data on Thursday, November 6th. The business services provider reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $405.64 million for the quarter, compared to analysts’ expectations of $402.03 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sanders Morris Harris LLC bought a new position in shares of Clear Channel Outdoor during the 3rd quarter worth approximately $25,000. CWM LLC grew its holdings in Clear Channel Outdoor by 97.9% in the third quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock worth $26,000 after purchasing an additional 8,248 shares during the last quarter. Burney Co. acquired a new position in shares of Clear Channel Outdoor during the third quarter worth $32,000. Advisors Capital Management LLC lifted its holdings in shares of Clear Channel Outdoor by 91.7% during the 3rd 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 during the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of Clear Channel Outdoor in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

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.