CLEAR CHANNEL O/SH (NYSE:CCO) has received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $10.63.
Several equities research analysts recently issued reports on CCO shares. ValuEngine downgraded CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Raymond James reiterated an “average” rating and set a $16.00 price target on shares of CLEAR CHANNEL O/SH in a report on Friday, July 26th. Zacks Investment Research upgraded CLEAR CHANNEL O/SH from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a report on Friday, August 9th. TheStreet downgraded CLEAR CHANNEL O/SH from a “c-” rating to a “d” rating in a report on Tuesday, May 7th. Finally, Wolfe Research downgraded CLEAR CHANNEL O/SH from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th.
In other CLEAR CHANNEL O/SH news, Director W Benjamin Moreland acquired 400,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $2.28 per share, with a total value of $912,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott Wells acquired 15,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $2.36 per share, for a total transaction of $35,400.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 435,000 shares of company stock worth $996,200. Insiders own 4.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Legal & General Group Plc lifted its position in shares of CLEAR CHANNEL O/SH by 56.4% during the 4th quarter. Legal & General Group Plc now owns 8,116 shares of the business services provider’s stock valued at $42,000 after buying an additional 2,927 shares during the last quarter. CWM Advisors LLC lifted its position in shares of CLEAR CHANNEL O/SH by 15.9% during the 2nd quarter. CWM Advisors LLC now owns 33,995 shares of the business services provider’s stock valued at $160,000 after buying an additional 4,655 shares during the last quarter. Northern Trust Corp lifted its position in shares of CLEAR CHANNEL O/SH by 1.2% during the 2nd quarter. Northern Trust Corp now owns 424,595 shares of the business services provider’s stock valued at $2,004,000 after buying an additional 4,978 shares during the last quarter. Aperio Group LLC purchased a new position in shares of CLEAR CHANNEL O/SH during the 2nd quarter valued at $26,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of CLEAR CHANNEL O/SH by 24.0% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 31,000 shares of the business services provider’s stock valued at $166,000 after buying an additional 6,000 shares during the last quarter. 9.22% of the stock is currently owned by institutional investors and hedge funds.
CLEAR CHANNEL O/SH stock traded down $0.02 during trading on Friday, hitting $2.24. 7,883,267 shares of the company were exchanged, compared to its average volume of 1,470,991. The business’s 50 day moving average is $3.64 and its 200 day moving average is $4.81. CLEAR CHANNEL O/SH has a 52 week low of $2.06 and a 52 week high of $6.38. The company has a market capitalization of $1.10 billion, a P/E ratio of -3.86 and a beta of 0.72.
About CLEAR CHANNEL O/SH
Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.
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