Clear Channel Outdoor (NYSE:CCO) Trading 4.6% Higher - Here's Why

Key Points

• Clear Channel Outdoor's stock rose **4.6%** during mid-day trading, reaching a high of **$1.51** before closing at **$1.49**.
• Zacks Research upgraded the stock to a **"strong-buy"** rating, while TD Cowen increased its price target from **$1.60 to $2.50**.
• Insider activity included major shareholder Arturo R. Moreno acquiring **1,000,000 shares** at an average of **$1.07**, increasing his ownership by **1.55%**.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report)'s share price traded up 4.6% during mid-day trading on Friday . The stock traded as high as $1.51 and last traded at $1.49. 2,586,636 shares changed hands during trading, an increase of 1% from the average session volume of 2,568,017 shares. The stock had previously closed at $1.42.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Zacks Research upgraded Clear Channel Outdoor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. TD Cowen boosted their price target on Clear Channel Outdoor from $1.60 to $2.50 and gave the company a "buy" rating in a report on Thursday, September 25th. Citigroup boosted their price target on Clear Channel Outdoor from $1.25 to $1.35 and gave the company a "neutral" rating in a report on Thursday, September 11th. Morgan Stanley set a $1.75 price target on Clear Channel Outdoor in a report on Wednesday, September 10th. Finally, UBS Group set a $2.50 price target on Clear Channel Outdoor in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $2.12.

Clear Channel Outdoor Stock Performance

The firm has a market capitalization of $767.88 million, a price-to-earnings ratio of 38.63 and a beta of 2.64. The business has a fifty day moving average price of $1.33 and a 200 day moving average price of $1.18.

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) EPS for the quarter, hitting analysts' consensus estimates of ($0.04). The firm had revenue of $402.81 million for 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 acquired 1,000,000 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was acquired at an average cost of $1.07 per share, for a total transaction of $1,070,000.00. Following the acquisition, the insider directly owned 65,612,859 shares in the company, valued at approximately $70,205,759.13. This represents a 1.55% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ares Management Llc sold 13,000,000 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $1.13, for a total value of $14,690,000.00. Following the completion of the sale, the insider owned 41,197,491 shares of the company's stock, valued at approximately $46,553,164.83. This represents a 23.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 1,478,507 shares of company stock valued at $1,591,573. Insiders own 7.70% of the company's stock.

Institutional Trading of Clear Channel Outdoor

Large investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris LLC acquired a new stake in Clear Channel Outdoor in the 3rd quarter valued at $25,000. CWM LLC increased its holdings in Clear Channel Outdoor by 97.9% in the 3rd quarter. CWM LLC now owns 16,675 shares of the business services provider's stock valued at $26,000 after purchasing an additional 8,248 shares in the last quarter. Burney Co. acquired a new stake in Clear Channel Outdoor in the 3rd quarter valued at $32,000. EntryPoint Capital LLC acquired a new stake in Clear Channel Outdoor in the 1st quarter valued at $31,000. Finally, Teacher Retirement System of Texas acquired a new stake in Clear Channel Outdoor in the 1st quarter valued at $39,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

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.

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