Clear Channel Outdoor (NYSE:CCO) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.21 and traded as high as $1.22. Clear Channel Outdoor shares last traded at $1.18, with a volume of 1,653,949 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barrington Research lowered shares of Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 23rd. Morgan Stanley dropped their price target on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st.

Clear Channel Outdoor Stock Performance

The firm has a market cap of $608.47 million, a price-to-earnings ratio of -20.41 and a beta of 2.58. The stock's fifty day moving average is $1.11 and its two-hundred day moving average is $1.21.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. The business had revenue of $334.18 million during the quarter, compared to the consensus estimate of $337.70 million.

Insider Activity

In other news, CEO Scott Wells acquired 50,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $1.08 per share, with a total value of $54,000.00. Following the purchase, the chief executive officer owned 3,392,205 shares of the company's stock, valued at approximately $3,663,581.40. This represents a 1.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Arturo R. Moreno bought 38,815 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average cost of $1.06 per share, with a total value of $41,143.90. Following the purchase, the insider directly owned 64,134,352 shares of the company's stock, valued at approximately $67,982,413.12. This represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 8,009,591 shares of company stock valued at $7,774,881 in the last ninety days. Corporate insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On Clear Channel Outdoor

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 valued at $234,000 after buying an additional 8,976 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Clear Channel Outdoor by 8.5% during the fourth quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider's stock valued at $242,000 after acquiring an additional 13,824 shares during the period. Inspire Investing LLC raised its holdings 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 acquiring an additional 14,888 shares during the period. XTX Topco Ltd lifted its position in shares of Clear Channel Outdoor by 20.7% in the 1st 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 boosted its stake in 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 worth $133,000 after purchasing an additional 18,958 shares during the period. 85.52% of the stock is currently owned by institutional investors.

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.