Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Get Free Report) saw strong trading volume on Tuesday . 52,759,965 shares were traded during mid-day trading, an increase of 717% from the previous session’s volume of 6,458,412 shares.The stock last traded at $2.3950 and had previously closed at $2.40.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. TD Cowen reissued a “hold” rating and issued a $2.43 target price (down from $2.50) on shares of Clear Channel Outdoor in a report on Monday, April 6th. Wells Fargo & Company raised their target price on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a report on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Friday, March 27th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Clear Channel Outdoor currently has an average rating of “Reduce” and an average price target of $2.29.
Read Our Latest Stock Report on Clear Channel Outdoor
Clear Channel Outdoor Price Performance
Clear Channel Outdoor (NYSE:CCO – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $373.86 million during the quarter, compared to the consensus estimate of $348.71 million. Sell-side analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.04 EPS for the current fiscal year.
Institutional Trading of Clear Channel Outdoor
A number of institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 purchasing an additional 8,976 shares during the last quarter. Millennium Management LLC lifted its position in shares of Clear Channel Outdoor by 22.9% during the first quarter. Millennium Management LLC now owns 4,893,895 shares of the business services provider’s stock worth $5,432,000 after purchasing an additional 912,632 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Clear Channel Outdoor by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 6,775,078 shares of the business services provider’s stock worth $7,927,000 after purchasing an additional 59,366 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Clear Channel Outdoor by 2.7% during the second quarter. Russell Investments Group Ltd. now owns 561,802 shares of the business services provider’s stock worth $657,000 after purchasing an additional 14,855 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Clear Channel Outdoor during the second quarter worth $587,000. 85.52% of the stock is currently owned by institutional investors.
Clear Channel Outdoor Company Profile
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.
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