Clear Channel Outdoor (NYSE:CCO) Price Target Raised to $2.50 at TD Cowen

Key Points

• TD Cowen raised the price target for Clear Channel Outdoor (NYSE:CCO) from $1.60 to $2.50, indicating a potential upside of 67.22% from the current price.
• Clear Channel Outdoor's stock declined 1.6% to $1.50, with recent trading volumes lower than average, reflecting a market capitalization of $743.03 million.
• Insider transactions include major shareholder Arturo R. Moreno purchasing 1,000,000 shares for $1.07 each, while Ares Management sold 13,000,000 shares at $1.13, which decreased their ownership by 23.99%.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) had its price objective hoisted by TD Cowen from $1.60 to $2.50 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the business services provider's stock. TD Cowen's price objective suggests a potential upside of 67.22% from the company's current price.

Other research analysts have also recently issued reports about the stock. Citigroup upped their price objective on shares of Clear Channel Outdoor from $1.25 to $1.35 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Cowen restated a "buy" rating on shares of Clear Channel Outdoor in a research report on Thursday. Morgan Stanley set a $1.75 target price on shares of Clear Channel Outdoor in a research report on Wednesday, September 10th. Finally, Barrington Research reissued a "market perform" rating on shares of Clear Channel Outdoor in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $2.03.

Clear Channel Outdoor Stock Down 1.6%

Clear Channel Outdoor stock traded down $0.03 during mid-day trading on Thursday, hitting $1.50. 1,899,720 shares of the stock were exchanged, compared to its average volume of 2,604,553. The stock has a market capitalization of $743.03 million, a price-to-earnings ratio of 37.38 and a beta of 2.61. The firm's fifty day simple moving average is $1.23 and its two-hundred day simple moving average is $1.15. Clear Channel Outdoor has a 12 month low of $0.81 and a 12 month high of $1.69.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.04). The company had revenue of $402.81 million during the quarter, compared to analysts' expectations of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Insider Buying and Selling at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno purchased 1,000,000 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were acquired at an average cost of $1.07 per share, with a total value of $1,070,000.00. Following the completion of the acquisition, the insider directly owned 65,612,859 shares in the company, valued at $70,205,759.13. The trade was a 1.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Ares Management Llc sold 13,000,000 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 41,197,491 shares in the company, valued at $46,553,164.83. The trade was a 23.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 1,478,507 shares of company stock worth $1,591,573 over the last quarter. 7.70% of the stock is owned by company insiders.

Institutional Trading of Clear Channel Outdoor

A number of institutional investors have recently made changes to their positions in CCO. Bank of America Corp DE boosted its position in shares of Clear Channel Outdoor by 32.9% in the 4th quarter. Bank of America Corp DE now owns 1,374,918 shares of the business services provider's stock worth $1,884,000 after purchasing an additional 340,239 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Clear Channel Outdoor by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider's stock worth $277,000 after purchasing an additional 11,015 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 acquiring an additional 206,696 shares during the period. Finally, Net Worth Advisory Group acquired a new position in shares of Clear Channel Outdoor in the 1st quarter valued at $471,000. Institutional investors and hedge funds own 85.52% of the company's stock.

About Clear Channel Outdoor

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.

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