Clear Channel Outdoor (NYSE:CCO) Shares Gap Down to $1.42

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) gapped down before the market opened on Wednesday . The stock had previously closed at $1.42, but opened at $1.35. Clear Channel Outdoor shares last traded at $1.44, with a volume of 20,695 shares traded.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a research note on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.16.

Clear Channel Outdoor Trading Down 1.1 %

The company has a fifty day moving average price of $1.51 and a two-hundred day moving average price of $1.59. The firm has a market capitalization of $686.63 million, a PE ratio of -1.86 and a beta of 3.09.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01. The firm had revenue of $481.75 million during the quarter, compared to analyst estimates of $480.69 million. During the same period in the previous year, the company posted ($0.23) earnings per share. As a group, equities research analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.25 earnings per share for the current year.

Insider Activity

In related news, major shareholder Pacific Investment Management sold 46,959 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $1.69, for a total transaction of $79,360.71. Following the transaction, the insider now owns 104,812,998 shares of the company’s stock, valued at $177,133,966.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.53% of the company’s stock.

Hedge Funds Weigh In On Clear Channel Outdoor

A number of hedge funds and other institutional investors have recently bought and sold shares of CCO. CCG Wealth Management LLC acquired a new stake in shares of Clear Channel Outdoor in the 1st quarter valued at approximately $46,000. Quadrature Capital Ltd purchased a new stake in shares of Clear Channel Outdoor during the 4th quarter worth $68,000. Cowen AND Company LLC acquired a new position in shares of Clear Channel Outdoor during the 2nd quarter worth $120,000. Genesee Capital Advisors LLC acquired a new position in shares of Clear Channel Outdoor during the 2nd quarter worth $136,000. Finally, AEGON USA Investment Management LLC lifted its stake in shares of Clear Channel Outdoor by 53.4% in the second quarter. AEGON USA Investment Management LLC now owns 154,449 shares of the business services provider’s stock valued at $218,000 after purchasing an additional 53,736 shares during the period. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

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.