TD Cowen Issues Positive Forecast for Clear Channel Outdoor (NYSE:CCO) Stock Price

Key Points

• TD Cowen has raised the price target for Clear Channel Outdoor (NYSE:CCO) from $2.50 to $2.80, indicating a potential upside of 53.42% from its current price.
• Other analysts have upgraded the company's outlook, with Zacks upgrading it to a strong-buy rating, while the average price target across analysts is $2.18.
• Significant insider trading activity includes Ares Management selling 13 million shares, and Arturo R. Moreno buying 1 million shares, reflecting varying confidence levels among major shareholders.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) had its price target lifted by equities researchers at TD Cowen from $2.50 to $2.80 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the business services provider's stock. TD Cowen's price objective points to a potential upside of 53.42% from the company's current price.

Other research analysts also recently issued research reports about the company. Zacks Research raised Clear Channel Outdoor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 15th. Cowen reiterated a "buy" rating on shares of Clear Channel Outdoor in a research report on Monday. Morgan Stanley set a $1.75 price objective on shares of Clear Channel Outdoor in a research report on Wednesday, September 10th. Barrington Research reiterated a "market perform" rating on shares of Clear Channel Outdoor in a research report on Wednesday, July 23rd. Finally, Citigroup boosted 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $2.18.

Clear Channel Outdoor Price Performance

Shares of NYSE CCO traded up $0.13 during trading on Monday, hitting $1.83. 8,585,834 shares of the company were exchanged, compared to its average volume of 2,688,338. The company has a market cap of $907.04 million, a price-to-earnings ratio of 45.41 and a beta of 2.64. Clear Channel Outdoor has a 1 year low of $0.81 and a 1 year high of $1.95. The firm's fifty day moving average price is $1.34 and its 200 day moving average price is $1.19.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The business services provider reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $402.81 million for 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.

Insiders Place Their Bets

In related news, major shareholder Ares Management Llc sold 13,000,000 shares of Clear Channel Outdoor 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 transaction, the insider owned 41,197,491 shares in the company, valued at approximately $46,553,164.83. The trade was a 23.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Arturo R. Moreno bought 1,000,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were purchased 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 in the company, valued at $70,205,759.13. This represents a 1.55% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 1,478,507 shares of company stock worth $1,591,573. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Clear Channel Outdoor in the 2nd quarter worth $3,510,000. Readystate Asset Management LP lifted its stake in Clear Channel Outdoor by 37.9% in the 1st quarter. Readystate Asset Management LP now owns 6,267,547 shares of the business services provider's stock worth $6,957,000 after purchasing an additional 1,723,417 shares in the last quarter. Jane Street Group LLC lifted its stake in Clear Channel Outdoor by 252.5% in the 2nd quarter. Jane Street Group LLC now owns 2,347,451 shares of the business services provider's stock worth $2,747,000 after purchasing an additional 1,681,454 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Clear Channel Outdoor in the 2nd quarter worth $1,861,000. Finally, Nuveen LLC purchased a new stake in Clear Channel Outdoor in the 1st quarter worth $1,612,000. Hedge funds and other institutional investors 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.

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