Clear Channel Outdoor (NYSE:CCO) Stock Price Up 6.6% - Still a Buy?

Key Points

• Clear Channel Outdoor's stock price increased by 6.6% on Wednesday, reaching a last traded price of $1.38.
• Analysts have mixed opinions on CCO, with a consensus rating of "Hold" and a price target averaging $1.95.
• Insider trading activity includes major shareholder Arturo R. Moreno acquiring 1,000,000 shares at $1.07 each, highlighting potential confidence in the company's future prospects.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report)'s share price was up 6.6% during mid-day trading on Wednesday . The stock traded as high as $1.35 and last traded at $1.38. Approximately 959,850 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 2,492,968 shares. The stock had previously closed at $1.29.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CCO shares. Morgan Stanley set a $1.75 price objective on shares of Clear Channel Outdoor in a research report on Wednesday, September 10th. Citigroup upped their price target on shares of Clear Channel Outdoor from $1.25 to $1.35 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Finally, Barrington Research reaffirmed a "market perform" rating on shares of Clear Channel Outdoor in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $2.00.

Clear Channel Outdoor Stock Performance

The firm has a market cap of $693.33 million, a price-to-earnings ratio of 34.88 and a beta of 2.61. The stock's 50 day simple moving average is $1.21 and its 200-day simple moving average is $1.14.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.04). The business had revenue of $402.81 million during the quarter, compared to analyst estimates of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Insiders Place Their Bets

In other news, major shareholder Arturo R. Moreno purchased 1,000,000 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $1.07 per share, for a total transaction of $1,070,000.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Ares Management Llc sold 13,000,000 shares of the firm's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $1.13, for a total transaction of $14,690,000.00. Following the sale, the insider owned 41,197,491 shares in the company, valued at approximately $46,553,164.83. This represents a 23.99% decrease in their position. The disclosure for this sale can be found here. Insiders bought 1,478,507 shares of company stock worth $1,591,573 in the last quarter. Company insiders own 7.20% of the company's stock.

Institutional Trading of Clear Channel Outdoor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in Clear Channel Outdoor during the first quarter valued at $31,000. Teacher Retirement System of Texas purchased a new position in shares of Clear Channel Outdoor in the first quarter worth about $39,000. ProShare Advisors LLC lifted its stake in shares of Clear Channel Outdoor by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 99,330 shares of the business services provider's stock worth $136,000 after buying an additional 32,683 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in shares of Clear Channel Outdoor in the second quarter worth about $111,000. Finally, XTX Topco Ltd lifted its stake in shares of Clear Channel Outdoor by 20.7% in the first 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. Institutional investors and hedge funds own 85.52% of the company's stock.

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.