Clear Channel Outdoor (NYSE:CCO) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.33 and traded as high as $2.42. Clear Channel Outdoor shares last traded at $2.4050, with a volume of 3,713,712 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. TD Cowen reissued a “hold” rating and issued a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Wednesday, June 24th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $2.29.

Clear Channel Outdoor Price Performance

The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -13.36 and a beta of 1.95. The firm’s fifty day moving average is $2.40 and its 200-day moving average is $2.33.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The business services provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $373.86 million for the quarter, compared to analyst estimates of $348.71 million. As a group, equities research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.06 EPS for the current year.

Insider Activity at Clear Channel Outdoor

In related news, Director Raymond T. White sold 2,500,900 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $2.40, for a total transaction of $6,002,160.00. Following the completion of the sale, the director owned 91,003 shares of the company’s stock, valued at $218,407.20. This trade represents a 96.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 26,239,967 shares of company stock worth $62,975,921. 7.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clear Channel Outdoor

A number of institutional investors and hedge funds have recently modified their holdings of CCO. Captrust Financial Advisors bought a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at $27,000. EntryPoint Capital LLC bought a new position in Clear Channel Outdoor during the fourth quarter worth $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Clear Channel Outdoor during the fourth quarter worth $31,000. CTC Alternative Strategies Ltd. acquired a new stake in Clear Channel Outdoor in the first quarter worth $32,000. Finally, Sargent Investment Group LLC bought a new stake in Clear Channel Outdoor in the fourth quarter valued at $33,000. 85.52% of the stock is currently owned by institutional investors.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.