Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) shares saw strong trading volume on Thursday . 6,971,817 shares changed hands during mid-day trading, an increase of 196% from the previous session's volume of 2,356,663 shares.The stock last traded at $1.13 and had previously closed at $1.17.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on CCO. Morgan Stanley reduced their price objective on shares of Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Barrington Research reiterated a "market perform" rating on shares of Clear Channel Outdoor in a report on Wednesday, July 23rd.
Check Out Our Latest Stock Report on Clear Channel Outdoor
Clear Channel Outdoor Stock Performance
The stock has a market cap of $563.77 million, a PE ratio of 28.38 and a beta of 2.65. The stock has a 50 day moving average of $1.15 and a two-hundred day moving average of $1.16.
Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $402.81 million during the quarter, compared to analyst estimates of $397.37 million.
Insider Buying and Selling
In related news, major shareholder Arturo R. Moreno acquired 1,000,000 shares of the stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $1.07 per share, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have acquired 1,540,656 shares of company stock valued at $1,657,451. Company insiders own 7.70% of the company's stock.
Institutional Investors Weigh In On Clear Channel Outdoor
Several institutional investors and hedge funds have recently made changes to their positions in the company. Graham Capital Management L.P. bought a new position in Clear Channel Outdoor in the fourth quarter valued at about $36,000. EntryPoint Capital LLC bought a new stake in shares of Clear Channel Outdoor during the first quarter worth approximately $31,000. Teacher Retirement System of Texas bought a new position in Clear Channel Outdoor in the first quarter valued at approximately $39,000. Brevan Howard Capital Management LP acquired a new stake in Clear Channel Outdoor during the 4th quarter worth $92,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of Clear Channel Outdoor by 24.2% during the 4th quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider's stock valued at $133,000 after acquiring an additional 18,958 shares during the last quarter. Institutional investors and hedge funds own 85.52% of the company's stock.
Clear Channel Outdoor Company Profile
(
Get Free Report)
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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