Clear Channel Outdoor (NYSE:CCO) Shares Up 7.6% – What’s Next?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s share price shot up 7.6% during mid-day trading on Tuesday . The stock traded as high as $1.50 and last traded at $1.50. 1,208,642 shares were traded during trading, an increase of 18% from the average session volume of 1,020,199 shares. The stock had previously closed at $1.39.

Analyst Ratings Changes

Several brokerages have issued reports on CCO. Barrington Research reiterated an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a report on Thursday, October 31st. TD Cowen dropped 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 report on Friday, November 1st.

Clear Channel Outdoor Stock Performance

The firm has a market capitalization of $687.16 million, a P/E ratio of -4.84 and a beta of 3.03. The business’s fifty day moving average price is $1.41 and its two-hundred day moving average price is $1.50.

Institutional Trading of Clear Channel Outdoor

A number of institutional investors have recently modified their holdings of the company. DigitalBridge Group Inc. boosted its holdings in shares of Clear Channel Outdoor by 2.4% in the 4th quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider’s stock valued at $1,129,000 after buying an additional 19,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Clear Channel Outdoor by 32.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 853,179 shares of the business services provider’s stock valued at $1,169,000 after buying an additional 206,696 shares in the last quarter. State of Wyoming boosted its holdings in shares of Clear Channel Outdoor by 39.3% in the 4th quarter. State of Wyoming now owns 1,594,464 shares of the business services provider’s stock valued at $2,184,000 after buying an additional 450,000 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at about $548,000. Finally, ProShare Advisors LLC boosted its stake in Clear Channel Outdoor by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 99,330 shares of the business services provider’s stock worth $136,000 after purchasing an additional 32,683 shares in the last quarter. 85.52% of the stock is currently 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.