Clear Channel Outdoor (NYSE:CCO) Trading Down 7.1% - Should You Sell?

Key Points

• Clear Channel Outdoor's share price fell by 7.1% to $1.25, with trading volume increasing by 28% over the average daily volume.
• Wall Street analysts have mixed views on Clear Channel, with one buy rating, two hold ratings, and one sell rating, and an average price target of $2.13.
• Insider ownership increased by 1.55% after major shareholder Arturo R. Moreno purchased 1 million shares for $1.07 each, bringing total insider ownership to 7.20%.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report)'s share price dropped 7.1% during mid-day trading on Wednesday . The company traded as low as $1.25 and last traded at $1.25. Approximately 3,089,712 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 2,417,120 shares. The stock had previously closed at $1.34.

Analysts Set New Price Targets

CCO has been the topic of a number of research reports. Morgan Stanley set a $1.75 price objective on Clear Channel Outdoor in a research note on Wednesday, September 10th. Citigroup boosted their price objective on Clear Channel Outdoor from $1.25 to $1.35 and gave the company a "neutral" rating in a research note on Thursday. Finally, Barrington Research reiterated a "market perform" rating on shares of Clear Channel Outdoor in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $1.95.

Clear Channel Outdoor Price Performance

The company has a market cap of $663.51 million, a PE ratio of 33.38 and a beta of 2.61. The company has a fifty day moving average price of $1.20 and a 200 day moving average price of $1.14.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.04). The firm had revenue of $402.81 million for 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 Activity at Clear Channel Outdoor

In other news, major shareholder Arturo R. Moreno bought 1,000,000 shares of the business's stock in a transaction on Thursday, July 31st. The stock was acquired at an average price 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 $70,205,759.13. This represents a 1.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Ares Management Llc sold 13,000,000 shares of the company'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 completion of the sale, the insider directly owned 41,197,491 shares of the company's stock, valued at approximately $46,553,164.83. This represents a 23.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 1,478,507 shares of company stock valued at $1,591,573. 7.20% of the stock is owned by insiders.

Institutional Trading of Clear Channel Outdoor

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Clear Channel Outdoor by 4.4% in 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 buying an additional 8,976 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Clear Channel Outdoor by 2.7% during the second quarter. Russell Investments Group Ltd. now owns 561,802 shares of the business services provider's stock valued at $657,000 after purchasing an additional 14,855 shares during the period. Inspire Investing LLC boosted its stake in shares of Clear Channel Outdoor by 5.1% during the first quarter. Inspire Investing LLC now owns 306,009 shares of the business services provider's stock valued at $340,000 after purchasing an additional 14,888 shares during the period. XTX Topco Ltd raised its holdings in shares of Clear Channel Outdoor by 20.7% during the first quarter. XTX Topco Ltd now owns 100,929 shares of the business services provider's stock valued at $112,000 after acquiring an additional 17,292 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Clear Channel Outdoor by 24.2% during the fourth 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 in the last quarter. Hedge funds and other 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.