Clear Channel Outdoor Holdings Inc. (CCO) Sees Strong Trading Volume
Clear Channel Outdoor Holdings Inc. (NYSE:CCO) saw strong trading volume on Monday . 128,487 shares were traded during mid-day trading, an increase of 33% from the previous session’s volume of 96,425 shares.The stock last traded at $7.08 and had previously closed at $6.99.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Clear Channel Outdoor Holdings from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 5th. Wedbush increased their price target 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. Evercore ISI cut Clear Channel Outdoor Holdings from a “hold” rating to a “sell” rating in a research note on Friday, May 13th. Finally, TheStreet upgraded Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, June 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Clear Channel Outdoor Holdings currently has a consensus rating of “Hold” and a consensus target price of $4.88.
The stock has a market capitalization of $2.53 billion and a PE ratio of 33.32. The stock has a 50-day moving average of $6.55 and a 200 day moving average of $5.30.
A hedge fund recently raised its stake in Clear Channel Outdoor Holdings stock. BBT Capital Management LLC boosted its stake in shares of Clear Channel Outdoor Holdings Inc. (NYSE:CCO) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 807,867 shares of the company’s stock after buying an additional 23,500 shares during the period. BBT Capital Management LLC owned about 0.22% of Clear Channel Outdoor Holdings worth $4,516,000 at the end of the most recent 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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