CLEAR CHANNEL O/SH (NYSE:CCO) Trading Up 6%

Shares of CLEAR CHANNEL O/SH (NYSE:CCO) were up 6% on Tuesday . The stock traded as high as $2.51 and last traded at $2.48, approximately 2,896,327 shares were traded during mid-day trading. An increase of 56% from the average daily volume of 1,857,296 shares. The stock had previously closed at $2.34.

Several equities research analysts have recently weighed in on CCO shares. Zacks Investment Research downgraded CLEAR CHANNEL O/SH from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Wells Fargo & Co started coverage on CLEAR CHANNEL O/SH in a report on Monday, September 23rd. They issued an “outperform” rating and a $4.00 price objective for the company. Citigroup started coverage on CLEAR CHANNEL O/SH in a report on Wednesday, September 4th. They issued a “neutral” rating and a $2.70 price objective for the company. Wolfe Research downgraded CLEAR CHANNEL O/SH from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Finally, Cowen initiated coverage on CLEAR CHANNEL O/SH in a report on Wednesday, September 4th. They issued an “outperform” rating and a $3.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $6.90.

The company has a fifty day moving average of $2.59 and a two-hundred day moving average of $3.88. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -4.41 and a beta of 0.77.

CLEAR CHANNEL O/SH (NYSE:CCO) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.03) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.03). The company had revenue of $698.02 million for the quarter, compared to analyst estimates of $698.33 million. On average, research analysts anticipate that CLEAR CHANNEL O/SH will post -0.5 EPS for the current year.

In other CLEAR CHANNEL O/SH news, CEO Scott Wells bought 15,000 shares of CLEAR CHANNEL O/SH stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $2.36 per share, with a total value of $35,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian D. Coleman bought 20,000 shares of CLEAR CHANNEL O/SH stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $2.44 per share, with a total value of $48,800.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 435,000 shares of company stock valued at $996,200. Corporate insiders own 4.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CCO. Aperio Group LLC purchased a new position in shares of CLEAR CHANNEL O/SH in the second quarter valued at $26,000. UBS Asset Management Americas Inc. purchased a new position in shares of CLEAR CHANNEL O/SH in the second quarter valued at $47,000. Virtus ETF Advisers LLC purchased a new position in shares of CLEAR CHANNEL O/SH in the second quarter valued at $49,000. SG Americas Securities LLC purchased a new position in shares of CLEAR CHANNEL O/SH in the second quarter valued at $57,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CLEAR CHANNEL O/SH by 1,582.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,275 shares of the business services provider’s stock valued at $74,000 after buying an additional 27,535 shares in the last quarter. 76.20% of the stock is owned by institutional investors.

About CLEAR CHANNEL O/SH (NYSE:CCO)

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.

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