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

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.21 and traded as high as $1.22. Clear Channel Outdoor shares last traded at $1.20, with a volume of 1,540,504 shares traded.

Analyst Ratings Changes

Several research firms recently commented on CCO. Barrington Research downgraded Clear Channel Outdoor from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 23rd. Morgan Stanley cut their target price on Clear Channel Outdoor from $2.00 to $1.50 and set an "equal weight" rating for the company in a research report on Thursday, May 1st.

Clear Channel Outdoor Stock Performance

The company has a 50-day simple moving average of $1.14 and a 200-day simple moving average of $1.20. The stock has a market cap of $603.50 million, a P/E ratio of -20.25 and a beta of 2.58.

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, beating the consensus estimate 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 Buying and Selling at Clear Channel Outdoor

In other news, CEO Scott Wells bought 50,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $1.08 per share, for a total transaction of $54,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,392,205 shares in the company, valued at $3,663,581.40. The trade was a 1.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Arturo R. Moreno bought 980,644 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were purchased at an average price of $0.93 per share, with a total value of $911,998.92. Following the transaction, the insider owned 61,210,458 shares of the company's stock, valued at $56,925,725.94. The trade was a 1.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,396,869 shares of company stock valued at $2,386,032. Corporate insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On Clear Channel Outdoor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC acquired a new position in Clear Channel Outdoor in the first quarter valued at about $31,000. Graham Capital Management L.P. acquired a new position in Clear Channel Outdoor in the fourth quarter valued at about $36,000. Teacher Retirement System of Texas acquired a new position in Clear Channel Outdoor in the first quarter valued at about $39,000. Cibc World Markets Corp acquired a new position in Clear Channel Outdoor in the fourth quarter valued at about $45,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Clear Channel Outdoor in the fourth quarter valued at about $53,000. Institutional investors 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.