Clear Channel Outdoor Holdings Inc. (CCO) Sees Unusually-High Trading Volume
Clear Channel Outdoor Holdings Inc. (NYSE:CCO) shares saw an uptick in trading volume on Tuesday . 161,938 shares changed hands during mid-day trading, an increase of 3% from the previous session’s volume of 157,726 shares.The stock last traded at $6.57 and had previously closed at $6.58.
Several equities analysts have recently weighed in on CCO shares. Wedbush upped their price objective on shares of Clear Channel Outdoor Holdings from $4.00 to $6.00 and gave the company a “neutral” rating in a report on Thursday, May 5th. Zacks Investment Research upgraded shares of Clear Channel Outdoor Holdings from a “strong sell” rating to a “hold” rating in a report on Thursday, May 5th. Evercore ISI dropped their price objective on shares of Clear Channel Outdoor Holdings from $5.00 to $4.00 in a report on Wednesday, April 6th. Finally, TheStreet upgraded shares of Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a report on Thursday, June 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $4.88.
The company has a 50 day moving average of $6.38 and a 200-day moving average of $5.15. The firm has a market capitalization of $2.38 billion and a P/E ratio of 31.28.
Other institutional investors have added to or reduced their stakes in the company. Gamco Investors INC. ET AL raised its position 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 valued at $10,170,000 after buying an additional 36,600 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of 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 period. Finally, BBT Capital Management LLC raised its stake in shares of 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 period.
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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