Clear Channel Outdoor (NYSE:CCO) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Clear Channel Outdoor (NYSE:CCO) experienced a significant increase in trading volume, with nearly 7 million shares traded on Thursday, representing a 196% rise from the prior session.
• Analysts have revised the stock's price target down, with Morgan Stanley lowering it from $2.00 to $1.50 and maintaining an "equal weight" rating, while Barrington Research reiterated a "market perform" rating.
• Insider activity remains notable, as major shareholder Arturo R. Moreno purchased 1 million shares at an average price of $1.07, increasing his stake in the company to over 65 million shares.

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) saw strong trading volume on Thursday . 6,971,817 shares traded hands during 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.

Analyst Upgrades and Downgrades

CCO has been the subject of a number of research analyst reports. Barrington Research restated a "market perform" rating on shares of Clear Channel Outdoor in a report on Wednesday, July 23rd. Morgan Stanley cut their price target on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $2.04.

Clear Channel Outdoor Price Performance

The company has a market cap of $603.87 million, a PE ratio of 30.38 and a beta of 2.65. The company's fifty day moving average price is $1.16 and its 200 day moving average price is $1.15.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $402.81 million during the quarter, compared to the consensus estimate 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. Insiders have purchased 1,540,656 shares of company stock valued at $1,657,451 in the last three months. Corporate insiders own 7.20% of the company's stock.

Institutional Trading of Clear Channel Outdoor

Several institutional investors have recently added to or reduced their stakes in the company. Anson Funds Management LP raised its holdings in shares of Clear Channel Outdoor by 7.8% in the first quarter. Anson Funds Management LP now owns 18,076,186 shares of the business services provider's stock worth $20,065,000 after buying an additional 1,310,680 shares during the period. Diameter Capital Partners LP grew its holdings in shares of Clear Channel Outdoor by 2,210.5% in the fourth quarter. Diameter Capital Partners LP now owns 10,104,095 shares of the business services provider's stock worth $13,843,000 after purchasing an additional 9,666,788 shares during the last quarter. Geode Capital Management LLC increased its stake in Clear Channel Outdoor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 7,849,191 shares of the business services provider's stock worth $10,756,000 after buying an additional 34,262 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Clear Channel Outdoor by 16.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,992,175 shares of the business services provider's stock valued at $8,181,000 after buying an additional 968,225 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Clear Channel Outdoor by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,775,078 shares of the business services provider's stock valued at $7,927,000 after buying an additional 59,366 shares in the last quarter. Institutional investors 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.