Clear Channel Outdoor Holdings Inc. (CCO) Shares Up 4.5%
Clear Channel Outdoor Holdings Inc. (NYSE:CCO) shot up 4.5% during trading on Wednesday . The company traded as high as $6.35 and last traded at $6.26, with a volume of 139,734 shares changing hands. The stock had previously closed at $5.99.
A number of brokerages have commented on CCO. Wedbush raised their price objective on Clear Channel Outdoor Holdings from $4.00 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, May 5th. Zacks Investment Research raised Clear Channel Outdoor Holdings from a “hold” rating to a “strong-buy” rating and set a $7.50 price objective for the company in a research note on Tuesday. Evercore ISI reduced their price objective on Clear Channel Outdoor Holdings from $5.00 to $4.00 in a research note on Wednesday, April 6th. Finally, TheStreet raised Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, June 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $4.88.
The firm’s 50-day moving average price is $6.33 and its 200-day moving average price is $5.11. The company has a market cap of $2.25 billion and a P/E ratio of 29.57.
Several large investors recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL raised its stake in Clear Channel Outdoor Holdings by 2.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,819,314 shares of the company’s stock worth $10,170,000 after buying an additional 36,600 shares during the period. Gabelli Funds LLC raised its position in Clear Channel Outdoor Holdings by 3.0% in the fourth quarter. Gabelli Funds LLC now owns 2,747,144 shares of the company’s stock worth $15,357,000 after buying an additional 80,000 shares during the last quarter. Finally, BBT Capital Management LLC raised its position in Clear Channel Outdoor Holdings by 3.0% in the fourth quarter. BBT Capital Management LLC now owns 807,867 shares of the company’s stock worth $4,516,000 after buying an additional 23,500 shares during the last quarter.
Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company owns and operates billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. It operates in two segments: Americas outdoor advertising (Americas) and International outdoor advertising (International).
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