Clear Channel Outdoor (NYSE:CCO) Cut to Sell at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Clear Channel Outdoor (NYSE:CCO – Free Report) from a hold rating to a sell rating in a report published on Saturday morning.

CCO has been the topic of several other research reports. Cowen restated a “buy” rating on shares of Clear Channel Outdoor in a report on Monday, October 20th. Morgan Stanley set a $1.75 price objective on Clear Channel Outdoor in a research report on Wednesday, September 10th. TD Cowen raised their target price on shares of Clear Channel Outdoor from $2.50 to $2.80 and gave the company a “buy” rating in a report on Monday, October 20th. Citigroup lifted their price target on shares of Clear Channel Outdoor from $1.35 to $2.10 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Finally, Barrington Research reissued a “market perform” rating on shares of Clear Channel Outdoor in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Clear Channel Outdoor presently has a consensus rating of “Hold” and an average price target of $2.38.

Check Out Our Latest Stock Analysis on Clear Channel Outdoor

Clear Channel Outdoor Stock Performance

Shares of CCO stock opened at $1.96 on Friday. Clear Channel Outdoor has a fifty-two week low of $0.81 and a fifty-two week high of $2.03. The company has a 50 day moving average price of $1.56 and a 200 day moving average price of $1.29. The stock has a market capitalization of $971.66 million, a P/E ratio of 48.89 and a beta of 2.63.

Clear Channel Outdoor (NYSE:CCO – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The business services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $405.64 million during the quarter, compared to analysts’ expectations of $402.03 million. Clear Channel Outdoor has set its Q4 2025 guidance at EPS.

Insider Buying and Selling at Clear Channel Outdoor

In other news, major shareholder Ares Management Llc sold 13,000,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $1.13, for a total value of $14,690,000.00. Following the completion of the transaction, the insider owned 41,197,491 shares in the company, valued at approximately $46,553,164.83. This represents a 23.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Clear Channel Outdoor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas acquired a new position in Clear Channel Outdoor in the first quarter valued at $39,000. AEGON USA Investment Management LLC lifted its holdings in shares of Clear Channel Outdoor by 11.4% in the 1st quarter. AEGON USA Investment Management LLC now owns 240,310 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 24,503 shares during the last quarter. Readystate Asset Management LP boosted its position in shares of Clear Channel Outdoor by 37.9% in the 1st quarter. Readystate Asset Management LP now owns 6,267,547 shares of the business services provider’s stock valued at $6,957,000 after purchasing an additional 1,723,417 shares during the period. XTX Topco Ltd grew its stake in Clear Channel Outdoor by 20.7% during the 1st quarter. XTX Topco Ltd now owns 100,929 shares of the business services provider’s stock worth $112,000 after buying an additional 17,292 shares during the last quarter. Finally, Swiss National Bank increased its position in Clear Channel Outdoor by 9.5% during the first quarter. Swiss National Bank now owns 473,800 shares of the business services provider’s stock worth $526,000 after buying an additional 41,000 shares during the period. 85.52% of the stock is currently owned by institutional investors and hedge funds.

About Clear Channel Outdoor

(Get Free Report)

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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