Clear Channel Outdoor (NYSE:CCO) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Clear Channel Outdoor's stock has crossed above its 200-day moving average, reaching a high of $1.35 before closing at $1.31 on Monday.
• Analyst ratings are mixed, with two analysts giving a Buy rating, two a Hold rating, and two a Sell rating, reflecting cautious sentiment towards the stock.
• Recent insider activity includes major shareholder Arturo R. Moreno purchasing 1 million shares at $1.07 each, increasing his stake in the company, while Ares Management sold 13 million shares, indicating fluctuating insider confidence.

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.18 and traded as high as $1.35. Clear Channel Outdoor shares last traded at $1.31, with a volume of 1,453,534 shares traded.

Analyst Upgrades and Downgrades

CCO has been the topic of several recent research reports. Barrington Research reiterated a "market perform" rating on shares of Clear Channel Outdoor in a research report on Wednesday, July 23rd. Cowen restated a "buy" rating on shares of Clear Channel Outdoor in a research note on Thursday, September 25th. Citigroup lifted their target price on shares of Clear Channel Outdoor from $1.25 to $1.35 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Morgan Stanley set a $1.75 target price on shares of Clear Channel Outdoor in a research note on Wednesday, September 10th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Clear Channel Outdoor in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Clear Channel Outdoor presently has an average rating of "Hold" and an average price target of $2.12.

Clear Channel Outdoor Trading Up 0.4%

The company has a market capitalization of $648.60 million, a PE ratio of 32.63 and a beta of 2.64. The firm's 50-day simple moving average is $1.32 and its 200-day simple moving average is $1.18.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $402.81 million during 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 related news, major shareholder Arturo R. Moreno purchased 1,000,000 shares of the business's stock in a transaction on 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 purchase, the insider owned 65,612,859 shares of the company's stock, valued at $70,205,759.13. This trade represents a 1.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ares Management Llc sold 13,000,000 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $1.13, for a total transaction of $14,690,000.00. Following the completion of the sale, the insider owned 41,197,491 shares in the company, valued at $46,553,164.83. The trade was a 23.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 1,478,507 shares of company stock valued at $1,591,573. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clear Channel Outdoor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Clear Channel Outdoor by 4.4% during the 1st 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. lifted its holdings in Clear Channel Outdoor by 2.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 561,802 shares of the business services provider's stock worth $657,000 after buying an additional 14,855 shares in the last quarter. Inspire Investing LLC lifted its holdings in Clear Channel Outdoor by 5.1% during the 1st quarter. Inspire Investing LLC now owns 306,009 shares of the business services provider's stock worth $340,000 after buying an additional 14,888 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in Clear Channel Outdoor during the 3rd quarter worth approximately $25,000. Finally, XTX Topco Ltd lifted its holdings in Clear Channel Outdoor by 20.7% during the 1st quarter. XTX Topco Ltd now owns 100,929 shares of the business services provider's stock worth $112,000 after buying an additional 17,292 shares in the last quarter. 85.52% of the stock is owned by hedge funds and other 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.

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