Clear Channel Outdoor (NYSE:CCO) Trading Down 3.9% – Time to Sell?

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) traded down 3.9% on Thursday . The company traded as low as $1.46 and last traded at $1.46. 134,693 shares were traded during trading, a decline of 89% from the average session volume of 1,206,443 shares. The stock had previously closed at $1.52.

Analysts Set New Price Targets

CCO has been the subject of several analyst reports. Barrington Research reissued an “outperform” rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a report on Thursday, October 31st. Wells Fargo & Company cut shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $2.75 to $1.75 in a research note on Thursday, September 19th. Finally, TD Cowen lowered their target price on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Clear Channel Outdoor presently has a consensus rating of “Hold” and an average price target of $2.16.

Clear Channel Outdoor Trading Down 3.0 %

The company has a 50 day simple moving average of $1.50 and a two-hundred day simple moving average of $1.54. The firm has a market capitalization of $721.39 million, a P/E ratio of -5.09 and a beta of 3.04.

Insider Buying and Selling

In related news, major shareholder Arturo R. Moreno acquired 250,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $1.45 per share, with a total value of $362,500.00. Following the acquisition, the insider now directly owns 52,182,534 shares of the company’s stock, valued at approximately $75,664,674.30. This trade represents a 0.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clear Channel Outdoor

Several institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC purchased a new position in Clear Channel Outdoor during the third quarter worth $32,000. Ground Swell Capital LLC purchased a new position in shares of Clear Channel Outdoor during the 3rd quarter worth about $34,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Clear Channel Outdoor during the third quarter valued at approximately $34,000. Stratos Wealth Advisors LLC purchased a new stake in shares of Clear Channel Outdoor in the third quarter worth approximately $40,000. Finally, Point72 DIFC Ltd bought a new position in shares of Clear Channel Outdoor in the second quarter worth about $55,000. 85.52% of the stock is owned by institutional investors.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.