Clear Channel Outdoor (NYSE:CCO) Stock Price Up 3.3% – Here’s What Happened

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) rose 3.3% during mid-day trading on Monday . The company traded as high as $1.41 and last traded at $1.40. Approximately 256,983 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,039,444 shares. The stock had previously closed at $1.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CCO shares. Barrington Research reissued an “outperform” rating and set a $2.50 price target on shares of Clear Channel Outdoor in a report on Monday. TD Cowen decreased their target price on Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a research note on Friday, November 1st.

Clear Channel Outdoor Stock Down 2.7 %

The firm has a market cap of $628.47 million, a PE ratio of -4.43 and a beta of 3.03. The business has a 50 day simple moving average of $1.40 and a two-hundred day simple moving average of $1.50.

Hedge Funds Weigh In On Clear Channel Outdoor

Several hedge funds have recently made changes to their positions in CCO. DigitalBridge Group Inc. lifted its stake in Clear Channel Outdoor by 2.4% during the 4th quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider’s stock valued at $1,129,000 after acquiring an additional 19,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Clear Channel Outdoor by 32.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 853,179 shares of the business services provider’s stock worth $1,169,000 after purchasing an additional 206,696 shares during the last quarter. State of Wyoming lifted its position in Clear Channel Outdoor by 39.3% during the fourth quarter. State of Wyoming now owns 1,594,464 shares of the business services provider’s stock valued at $2,184,000 after purchasing an additional 450,000 shares during the period. Point72 Asset Management L.P. purchased a new stake in Clear Channel Outdoor in the fourth quarter valued at $548,000. Finally, ProShare Advisors LLC grew its position in Clear Channel Outdoor by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 99,330 shares of the business services provider’s stock worth $136,000 after purchasing an additional 32,683 shares during the period. 85.52% of the stock is 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.