Clear Channel Outdoor (NYSE:CCO) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.57 and traded as high as $2.10. Clear Channel Outdoor shares last traded at $2.0650, with a volume of 759,698 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CCO shares. Morgan Stanley set a $2.00 price objective on Clear Channel Outdoor in a research report on Monday, November 10th. UBS Group set a $2.50 price target on Clear Channel Outdoor in a report on Thursday, September 25th. Citigroup raised their price target on Clear Channel Outdoor from $1.35 to $2.10 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. TD Cowen boosted their price objective on shares of Clear Channel Outdoor from $2.50 to $2.80 and gave the company a “buy” rating in a research report on Monday, October 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.32.

Clear Channel Outdoor Stock Down 0.7%

The stock has a market cap of $1.03 billion, a P/E ratio of -206.50 and a beta of 2.26. The company’s 50 day moving average price is $2.00 and its two-hundred day moving average price is $1.57.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings data on Thursday, November 6th. The business services provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $405.64 million for the quarter, compared to analysts’ expectations of $402.03 million.

Institutional Trading of Clear Channel Outdoor

A number of hedge funds have recently bought and sold shares of CCO. Sanders Morris Harris LLC acquired a new stake in Clear Channel Outdoor in the 3rd quarter worth approximately $25,000. CWM LLC increased its stake in Clear Channel Outdoor by 97.9% during the 3rd quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 8,248 shares in the last quarter. Burney Co. purchased a new position in shares of Clear Channel Outdoor in the third quarter worth $32,000. Advisors Capital Management LLC lifted its stake in shares of Clear Channel Outdoor by 91.7% during the third quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock worth $36,000 after buying an additional 11,000 shares during the period. Finally, Zacks Investment Management acquired a new stake in shares of Clear Channel Outdoor during the third quarter worth $36,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

About Clear Channel Outdoor

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.