Clear Channel Outdoor (NYSE:CCO) Reaches New 1-Year Low – Here’s Why

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) hit a new 52-week low on Wednesday . The company traded as low as $1.18 and last traded at $1.20, with a volume of 415072 shares traded. The stock had previously closed at $1.22.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a research report on Monday, February 24th.

Clear Channel Outdoor Price Performance

The company has a market capitalization of $585.62 million, a P/E ratio of -4.12 and a beta of 3.05. The company’s 50-day moving average price is $1.38 and its two-hundred day moving average price is $1.49.

Hedge Funds Weigh In On Clear Channel Outdoor

Several institutional investors and hedge funds have recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in Clear Channel Outdoor in the 3rd quarter valued at $32,000. Graham Capital Management L.P. acquired a new stake in Clear Channel Outdoor in the 4th quarter worth about $36,000. Cibc World Markets Corp bought a new stake in Clear Channel Outdoor in the 4th quarter valued at about $45,000. KLP Kapitalforvaltning AS acquired a new position in shares of Clear Channel Outdoor during the 4th quarter worth approximately $53,000. Finally, Jacksonville Wealth Management LLC bought a new position in shares of Clear Channel Outdoor during the fourth quarter worth approximately $62,000. Institutional investors and hedge funds 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.