Clear Channel Outdoor (NYSE:CCO) Shares Down 7.1% - Here's What Happened

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 trading on Wednesday . The company traded as low as $1.25 and last traded at $1.25. Approximately 3,089,712 shares traded 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.

Wall Street Analysts Forecast Growth

CCO has been the topic of several research reports. Morgan Stanley restated a "cautious" rating and set a $1.85 price target on shares of Clear Channel Outdoor in a research note on Wednesday. Barrington Research restated a "market perform" rating on shares of Clear Channel Outdoor in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $2.13.

Clear Channel Outdoor Stock Performance

The firm has a market capitalization of $628.72 million, a P/E ratio of 31.63 and a beta of 2.61. The stock has a 50-day moving average of $1.19 and a 200 day moving average 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) EPS for the quarter, hitting analysts' consensus estimates of ($0.04). The business had revenue of $402.81 million for 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 Transactions at Clear Channel Outdoor

In other news, major shareholder Arturo R. Moreno acquired 1,000,000 shares of Clear Channel Outdoor stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $1.07 per share, with a total value of $1,070,000.00. Following the acquisition, the insider 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 Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders acquired 1,478,507 shares of company stock worth $1,591,573. 7.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Graham Capital Management L.P. bought a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at $36,000. EntryPoint Capital LLC bought a new stake in shares of Clear Channel Outdoor in the 1st quarter valued at $31,000. Teacher Retirement System of Texas bought a new stake in shares of Clear Channel Outdoor in the 1st quarter valued at $39,000. Brevan Howard Capital Management LP bought a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at $92,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Clear Channel Outdoor by 24.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider's stock valued at $133,000 after buying an additional 18,958 shares in 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 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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