Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Get Free Report) shares were down 8.3% during trading on Thursday . The stock traded as low as $1.35 and last traded at $1.38. Approximately 639,220 shares were traded during trading, a decline of 67% from the average daily volume of 1,943,677 shares. The stock had previously closed at $1.50.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. Barrington Research restated an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research note on Monday, August 12th. Wells Fargo & Company downgraded Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $2.75 to $1.75 in a report on Thursday, September 19th.
Check Out Our Latest Report on CCO
Clear Channel Outdoor Trading Down 0.3 %
Clear Channel Outdoor (NYSE:CCO – Get Free Report) last posted its earnings results on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $558.54 million for the quarter, compared to analyst estimates of $563.75 million. As a group, research analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in Clear Channel Outdoor by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider’s stock worth $534,000 after buying an additional 17,901 shares during the period. XTX Topco Ltd lifted its position in shares of Clear Channel Outdoor by 28.4% during the second quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock worth $114,000 after purchasing an additional 17,957 shares in the last quarter. Ground Swell Capital LLC purchased a new position in shares of Clear Channel Outdoor in the third quarter valued at approximately $34,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Clear Channel Outdoor in the 3rd quarter valued at approximately $34,000. Finally, Russell Investments Group Ltd. increased its position in shares of Clear Channel Outdoor by 8.6% during the first quarter. Russell Investments Group Ltd. now owns 290,550 shares of the business services provider’s stock worth $479,000 after acquiring an additional 23,067 shares during the period. 85.52% of the stock is currently owned by hedge funds and other institutional investors.
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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