Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Short Interest Update

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 18,388,127 shares, a growth of 35.8% from the February 26th total of 13,543,823 shares. Currently, 4.0% of the shares of the stock are sold short. Based on an average trading volume of 11,856,960 shares, the short-interest ratio is presently 1.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Clear Channel Outdoor by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock worth $234,000 after acquiring an additional 8,976 shares during the last quarter. Millennium Management LLC boosted its holdings 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 valued at $5,432,000 after acquiring an additional 912,632 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Clear Channel Outdoor by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 6,775,078 shares of the business services provider’s stock valued at $7,927,000 after acquiring an additional 59,366 shares during the last quarter. Franklin Resources Inc. increased its position in Clear Channel Outdoor by 12.7% in the second quarter. Franklin Resources Inc. now owns 4,437,527 shares of the business services provider’s stock worth $5,192,000 after purchasing an additional 498,318 shares during the period. Finally, XTX Topco Ltd increased its position in Clear Channel Outdoor by 619.3% in the second quarter. XTX Topco Ltd now owns 725,982 shares of the business services provider’s stock worth $849,000 after purchasing an additional 625,053 shares during the period. 85.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on CCO shares. TD Cowen set a $2.50 price target on Clear Channel Outdoor in a research note on Tuesday, February 10th. Wells Fargo & Company increased their price target on Clear Channel Outdoor from $2.00 to $2.43 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $2.31.

Clear Channel Outdoor Stock Down 0.6%

NYSE:CCO traded down $0.02 during mid-day trading on Friday, reaching $2.36. 19,423,405 shares of the company were exchanged, compared to its average volume of 9,796,274. The stock has a market cap of $1.17 billion, a PE ratio of 47.11 and a beta of 2.30. Clear Channel Outdoor has a 12 month low of $0.81 and a 12 month high of $2.43. The company has a fifty day moving average of $2.30 and a 200 day moving average of $1.99.

Clear Channel Outdoor (NYSE:CCO) last announced its earnings results on Thursday, February 26th. The business services provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $461.52 million during the quarter, compared to the consensus estimate of $449.10 million.

About Clear Channel Outdoor

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.