Clear Channel Outdoor (NYSE:CCO) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Clear Channel Outdoor shares rose above their 200-day moving average, reaching $2.42 compared with the $2.37 average, on volume of about 2.3 million shares.
• Analysts remain cautious: the consensus rating is “Reduce” with a $2.29 price target, while the company reported quarterly EPS of -$0.01 in line with estimates and revenue of $438.04 million, above forecasts.
• Insider selling was significant, with executives selling 26.2 million shares worth nearly $63 million over 90 days; institutional investors nevertheless own 85.52% of the stock.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.37 and traded as high as $2.42. Clear Channel Outdoor shares last traded at $2.42, with a volume of 2,314,103 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Clear Channel Outdoor from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $2.29.

Clear Channel Outdoor Stock Performance

The business has a 50-day simple moving average of $2.41 and a two-hundred day simple moving average of $2.37. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -11.52 and a beta of 1.95.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.01). The business had revenue of $438.04 million during the quarter, compared to analyst estimates of $423.62 million. On average, analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Clear Channel Outdoor news, Director Raymond T. White sold 23,435,796 shares of Clear Channel Outdoor stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $2.40, for a total value of $56,245,910.40. Following the sale, the director directly owned 187,371 shares in the company, valued at approximately $449,690.40. The trade was a 99.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 26,239,967 shares of company stock valued at $62,975,921 over the last ninety days. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clear Channel Outdoor

Hedge funds have recently modified their holdings of the stock. Gamco Investors INC. ET AL grew its stake in shares of Clear Channel Outdoor by 11.8% in the first quarter. Gamco Investors INC. ET AL now owns 9,085,775 shares of the business services provider's stock valued at $21,533,000 after buying an additional 959,400 shares in the last quarter. Sentinel Dome Partners LLC bought a new stake in Clear Channel Outdoor during the fourth quarter worth $3,470,000. Occam Crest Management LP raised its position in Clear Channel Outdoor by 423.7% during the fourth quarter. Occam Crest Management LP now owns 3,404,300 shares of the business services provider's stock worth $7,524,000 after acquiring an additional 2,754,300 shares in the last quarter. Man Investment Partners US LP bought a new stake in Clear Channel Outdoor during the fourth quarter worth $4,612,000. Finally, Capula Management Ltd acquired a new stake in Clear Channel Outdoor in the first quarter valued at $2,200,000. Institutional investors own 85.52% of the company's stock.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc NYSE: CCO is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company's portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.

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