Clear Channel Outdoor (NYSE:CCO) Upgraded at Zacks Research

Zacks Research upgraded shares of Clear Channel Outdoor (NYSE:CCO) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on CCO. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Clear Channel Outdoor in a research note on Wednesday, October 8th. TD Cowen upped their price target on Clear Channel Outdoor from $1.60 to $2.50 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Morgan Stanley set a $1.75 price target on Clear Channel Outdoor in a research note on Wednesday, September 10th. UBS Group set a $2.50 price target on Clear Channel Outdoor in a research note on Thursday, September 25th. Finally, Citigroup upped their price target on Clear Channel Outdoor from $1.25 to $1.35 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Clear Channel Outdoor presently has a consensus rating of “Hold” and a consensus target price of $2.12.

Clear Channel Outdoor Stock Up 18.0%

Shares of Clear Channel Outdoor stock opened at $1.68 on Wednesday. The company has a market cap of $832.50 million, a PE ratio of 41.89 and a beta of 2.64. The business has a 50 day moving average of $1.34 and a 200 day moving average of $1.18. Clear Channel Outdoor has a 52 week low of $0.81 and a 52 week high of $1.92.

Clear Channel Outdoor (NYSE:CCO) last announced its earnings results on Tuesday, August 5th. The business services provider reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). The business had revenue of $402.81 million for the quarter, compared to the consensus estimate of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Insiders Place Their Bets

In related news, major shareholder Arturo R. Moreno bought 1,000,000 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $1.07 per share, with a total value of $1,070,000.00. Following the completion of the purchase, the insider owned 65,612,859 shares in the company, valued at approximately $70,205,759.13. The trade was a 1.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ares Management Llc sold 13,000,000 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $1.13, for a total value of $14,690,000.00. Following the completion of the sale, the insider directly owned 41,197,491 shares in the company, valued at approximately $46,553,164.83. This represents a 23.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 1,478,507 shares of company stock worth $1,591,573. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Clear Channel Outdoor

Institutional investors have recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new position in shares of Clear Channel Outdoor during the first quarter valued at $39,000. Anson Funds Management LP lifted its holdings in shares of Clear Channel Outdoor by 7.8% during the first quarter. Anson Funds Management LP now owns 18,076,186 shares of the business services provider’s stock valued at $20,065,000 after purchasing an additional 1,310,680 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Clear Channel Outdoor by 28.6% during the first quarter. Russell Investments Group Ltd. now owns 546,947 shares of the business services provider’s stock valued at $607,000 after purchasing an additional 121,578 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Clear Channel Outdoor by 9.5% during the first quarter. Swiss National Bank now owns 473,800 shares of the business services provider’s stock valued at $526,000 after purchasing an additional 41,000 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in shares of Clear Channel Outdoor by 20.7% during the first quarter. XTX Topco Ltd now owns 100,929 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 17,292 shares in the last quarter. 85.52% of the stock is owned by hedge funds and other 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.