Clear Channel Outdoor Holdings Inc. (CCO) Shares Down 4.5%
Clear Channel Outdoor Holdings Inc. (NYSE:CCO) was down 4.5% during mid-day trading on Thursday . The company traded as low as $6.52 and last traded at $6.77, with a volume of 142,188 shares. The stock had previously closed at $7.09.
A number of equities research analysts have issued reports on CCO shares. Evercore ISI reduced their price objective on shares of Clear Channel Outdoor Holdings from $5.00 to $4.00 in a research note on Wednesday, April 6th. Zacks Investment Research cut shares of Clear Channel Outdoor Holdings from a “buy” rating to a “hold” rating in a report on Friday, July 15th. TheStreet raised shares of Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a report on Thursday, June 9th. Finally, Wedbush increased their target price on shares of Clear Channel Outdoor Holdings from $4.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, May 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Clear Channel Outdoor Holdings currently has a consensus rating of “Hold” and an average price target of $4.88.
The stock’s 50-day moving average price is $6.60 and its 200 day moving average price is $5.33. The firm has a market capitalization of $2.45 billion and a price-to-earnings ratio of 32.23.
A hedge fund recently raised its stake in Clear Channel Outdoor Holdings stock. BBT Capital Management LLC boosted its position 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 SEC. The institutional investor 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 as of its most recent filing with the SEC.
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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