Clear Channel Outdoor (NYSE:CCO) Reaches New 1-Year High on Analyst Upgrade

Key Points

• Clear Channel Outdoor's stock reached a new 52-week high after TD Cowen upgraded its price target from $2.50 to $2.80, with a current buy rating on the stock.
• Major shareholder Arturo R. Moreno purchased 1 million shares at $1.07, increasing his stake, while Ares Management sold 13 million shares at $1.13.
• Clear Channel Outdoor has a consensus rating of "Hold" and an average price target of $2.18, with various analysts providing differing ratings from "Strong Buy" to "Sell."

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report)'s share price hit a new 52-week high during trading on Monday after TD Cowen raised their price target on the stock from $2.50 to $2.80. TD Cowen currently has a buy rating on the stock. Clear Channel Outdoor traded as high as $1.95 and last traded at $1.81, with a volume of 3713952 shares. The stock had previously closed at $1.70.

Other equities research analysts have also issued research reports about the company. Morgan Stanley set a $1.75 target price on Clear Channel Outdoor in a research note on Wednesday, September 10th. UBS Group set a $2.50 target price on Clear Channel Outdoor in a research report on Thursday, September 25th. Weiss Ratings reissued a "sell (d+)" rating on shares of Clear Channel Outdoor in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Clear Channel Outdoor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 15th. Finally, Barrington Research reissued a "market perform" rating on shares of Clear Channel Outdoor in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $2.18.

Insider Buying and Selling

In other news, major shareholder Arturo R. Moreno acquired 1,000,000 shares of Clear Channel Outdoor stock in a transaction dated Thursday, July 31st. The stock was 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 directly owned 65,612,859 shares in the company, valued at approximately $70,205,759.13. This trade represents a 1.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ares Management Llc sold 13,000,000 shares of Clear Channel Outdoor stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $1.13, for a total transaction of $14,690,000.00. Following the sale, the insider owned 41,197,491 shares of the company's stock, valued at $46,553,164.83. The trade was a 23.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 1,478,507 shares of company stock worth $1,591,573. 7.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clear Channel Outdoor

Institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas purchased a new position in shares of Clear Channel Outdoor in the first quarter valued at $39,000. AEGON USA Investment Management LLC increased its holdings in Clear Channel Outdoor by 11.4% in the first quarter. AEGON USA Investment Management LLC now owns 240,310 shares of the business services provider's stock worth $267,000 after buying an additional 24,503 shares during the last quarter. Readystate Asset Management LP lifted its holdings in Clear Channel Outdoor by 37.9% in the 1st quarter. Readystate Asset Management LP now owns 6,267,547 shares of the business services provider's stock worth $6,957,000 after purchasing an additional 1,723,417 shares during the last quarter. XTX Topco Ltd lifted its position in shares of Clear Channel Outdoor by 20.7% during the 1st quarter. XTX Topco Ltd now owns 100,929 shares of the business services provider's stock worth $112,000 after buying an additional 17,292 shares during the period. Finally, Swiss National Bank increased 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 worth $526,000 after buying an additional 41,000 shares in the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Clear Channel Outdoor Stock Up 9.7%

The stock has a fifty day moving average of $1.34 and a 200-day moving average of $1.19. The firm has a market capitalization of $926.92 million, a P/E ratio of 46.64 and a beta of 2.64.

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

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.

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