Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Receives Average Rating of “Reduce” from Analysts

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) have earned a consensus recommendation of “Reduce” from the six research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $2.2920.

Separately, Weiss Ratings upgraded shares of Clear Channel Outdoor from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th.

Insider Buying and Selling at Clear Channel Outdoor

In related news, Director Raymond T. White sold 2,500,900 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $2.40, for a total value of $6,002,160.00. Following the completion of the sale, the director owned 91,003 shares in the company, valued at approximately $218,407.20. This trade represents a 96.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 26,239,967 shares of company stock valued at $62,975,921 in the last three months. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clear Channel Outdoor

Several large investors have recently added to or reduced their stakes in CCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Clear Channel Outdoor by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock worth $234,000 after purchasing an additional 8,976 shares in the last quarter. Millennium Management LLC lifted its position in Clear Channel Outdoor by 22.9% in the first quarter. Millennium Management LLC now owns 4,893,895 shares of the business services provider’s stock worth $5,432,000 after purchasing an additional 912,632 shares during the period. JPMorgan Chase & Co. boosted its stake in Clear Channel Outdoor by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 6,775,078 shares of the business services provider’s stock worth $7,927,000 after buying an additional 59,366 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Clear Channel Outdoor by 2.7% during the second quarter. Russell Investments Group Ltd. now owns 561,802 shares of the business services provider’s stock worth $657,000 after buying an additional 14,855 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Clear Channel Outdoor during the 2nd quarter worth approximately $587,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

NYSE:CCO opened at $2.38 on Monday. Clear Channel Outdoor has a 1 year low of $1.20 and a 1 year high of $2.44. The firm has a market capitalization of $1.21 billion, a PE ratio of -11.33 and a beta of 1.95. The firm’s fifty day simple moving average is $2.40 and its 200 day simple moving average is $2.38.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings data on Wednesday, August 5th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $438.04 million during the quarter, compared to analyst estimates of $423.62 million. As a group, analysts anticipate that Clear Channel Outdoor will post -0.05 EPS for the current fiscal 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.