Clear Channel Outdoor (NYSE:CCO) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Clear Channel Outdoor (NYSE:CCO – Get Rating) in a report issued on Thursday. The brokerage issued a hold rating on the business services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Citigroup lifted their target price on shares of Clear Channel Outdoor from $1.10 to $1.90 and gave the stock a neutral rating in a research note on Thursday, February 16th. Barrington Research reaffirmed an outperform rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research note on Monday, March 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $2.18.

Clear Channel Outdoor Stock Performance

Clear Channel Outdoor stock opened at $1.09 on Thursday. The company’s fifty day moving average price is $1.59 and its 200 day moving average price is $1.42. Clear Channel Outdoor has a 1 year low of $0.91 and a 1 year high of $3.79. The stock has a market capitalization of $520.41 million, a P/E ratio of -5.45 and a beta of 2.53.

Insiders Place Their Bets

In related news, major shareholder Ares Management Llc purchased 330,000 shares of Clear Channel Outdoor stock in a transaction dated Friday, January 13th. The shares were acquired at an average price of $1.39 per share, for a total transaction of $458,700.00. Following the acquisition, the insider now directly owns 51,001,580 shares in the company, valued at $70,892,196.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders have acquired a total of 3,660,902 shares of company stock valued at $5,812,824 in the last 90 days. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Ares Management LLC raised its holdings in shares of Clear Channel Outdoor by 4.2% during the 4th quarter. Ares Management LLC now owns 49,649,626 shares of the business services provider’s stock worth $52,132,000 after acquiring an additional 2,000,000 shares during the period. Vanguard Group Inc. raised its holdings in shares of Clear Channel Outdoor by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 42,561,409 shares of the business services provider’s stock worth $58,309,000 after acquiring an additional 1,212,809 shares during the period. Legion Partners Asset Management LLC raised its holdings in shares of Clear Channel Outdoor by 0.6% during the 4th quarter. Legion Partners Asset Management LLC now owns 20,292,800 shares of the business services provider’s stock worth $21,307,000 after acquiring an additional 125,400 shares during the period. Morgan Stanley raised its holdings in shares of Clear Channel Outdoor by 16.2% during the 4th quarter. Morgan Stanley now owns 18,272,035 shares of the business services provider’s stock worth $19,186,000 after acquiring an additional 2,541,546 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Clear Channel Outdoor by 39.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,475,399 shares of the business services provider’s stock valued at $13,099,000 after buying an additional 3,550,199 shares during the period.

About Clear Channel Outdoor

(Get Rating)

Clear Channel Outdoor Holdings, Inc engages in the provision of outdoor advertising solutions. It operates through the Americas and Other segments. The Americas segment consists of operations U.S. operations excluding airports. Europe-North, which consists of operations in the U.K., the Nordics and several other countries throughout northern and central Europe, and Europe-South, which covers the operations in France, Switzerland, Spain and Italy.