Clear Channel Outdoor (NYSE:CCO) Sees Large Volume Increase - What's Next?

Key Points

• Shares saw unusually strong trading volume—about 10,215,443 shares traded on Friday, a 40% increase from the prior session—with the stock around $2.36.
• Wall Street sentiment is cautious: the consensus rating is "Reduce" with an average target of $2.31 and an analyst mix of 1 Buy, 4 Hold, and 2 Sell.
• Clear Channel beat the latest quarter's expectations (EPS $0.02 vs $0.01 expected; revenue $461.52M vs $449.10M) and has heavy institutional ownership at about 85.52%.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 10,215,443 shares changed hands during mid-day trading, an increase of 40% from the previous session's volume of 7,293,599 shares.The stock last traded at $2.3550 and had previously closed at $2.37.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CCO shares. Weiss Ratings restated a "sell (d-)" rating on shares of Clear Channel Outdoor in a report on Monday, December 29th. Wells Fargo & Company increased their price target on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the company an "equal weight" rating in a research note on Friday, February 27th. Finally, TD Cowen set a $2.50 price objective on shares of Clear Channel Outdoor in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $2.31.

Clear Channel Outdoor Price Performance

The stock has a 50-day moving average price of $2.30 and a 200-day moving average price of $1.98. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 47.11 and a beta of 2.30.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last posted its earnings results on Thursday, February 26th. The business services provider reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. The business had revenue of $461.52 million for the quarter, compared to analyst estimates of $449.10 million.

Institutional Trading of Clear Channel Outdoor

Hedge funds have recently modified their holdings of the stock. Ieq Capital LLC boosted its holdings in shares of Clear Channel Outdoor by 8.3% during the 4th quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider's stock worth $130,000 after buying an additional 4,493 shares during the period. CWM LLC raised its holdings in Clear Channel Outdoor by 97.9% in the 3rd quarter. CWM LLC now owns 16,675 shares of the business services provider's stock valued at $26,000 after acquiring an additional 8,248 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Clear Channel Outdoor by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider's stock worth $234,000 after acquiring an additional 8,976 shares during the last quarter. SG Americas Securities LLC lifted its position in Clear Channel Outdoor by 61.8% during the fourth quarter. SG Americas Securities LLC now owns 23,618 shares of the business services provider's stock worth $52,000 after acquiring an additional 9,019 shares during the last quarter. Finally, Advisors Capital Management LLC lifted its position in 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 acquiring an additional 11,000 shares during the last quarter. Institutional investors and hedge funds own 85.52% of the company's stock.

Clear Channel Outdoor Company Profile

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.

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