Clear Channel Outdoor (NYSE:CCO) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Clear Channel Outdoor (NYSE:CCO – Get Rating) in a research note issued to investors on Thursday morning. The brokerage issued a hold rating on the business services provider’s stock.

Several other research analysts also recently commented on CCO. Citigroup raised their price objective on shares of Clear Channel Outdoor from $1.10 to $1.90 and gave the stock a neutral rating in a report on Thursday, February 16th. Barrington Research reaffirmed an outperform rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a report on Monday, March 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $2.18.

Clear Channel Outdoor Price Performance

Clear Channel Outdoor stock opened at $1.09 on Thursday. Clear Channel Outdoor has a twelve month low of $0.91 and a twelve month high of $3.79. The firm has a 50 day moving average price of $1.59 and a 200-day moving average price of $1.42. The company has a market capitalization of $520.41 million, a P/E ratio of -5.45 and a beta of 2.53.

Insiders Place Their Bets

In other news, major shareholder Ares Management Llc bought 500,000 shares of the stock in a transaction on Monday, January 30th. The shares were acquired at an average cost of $1.79 per share, for a total transaction of $895,000.00. Following the purchase, the insider now directly owns 55,829,046 shares of the company’s stock, valued at approximately $99,933,992.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought 3,660,902 shares of company stock worth $5,812,824 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Clear Channel Outdoor

Several institutional investors and hedge funds have recently bought and sold shares of CCO. Sequoia Financial Advisors LLC purchased a new stake in shares of Clear Channel Outdoor during the 1st quarter valued at $35,000. Fifth Third Bancorp bought a new position in shares of Clear Channel Outdoor in the third quarter worth about $27,000. Covestor Ltd grew its holdings in shares of Clear Channel Outdoor by 12,212.4% in the first quarter. Covestor Ltd now owns 20,931 shares of the business services provider’s stock worth $72,000 after purchasing an additional 20,761 shares during the last quarter. Parallax Volatility Advisers L.P. bought a new position in Clear Channel Outdoor during the 3rd quarter worth about $30,000. Finally, Metropolitan Life Insurance Co NY grew its holdings in Clear Channel Outdoor by 67.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 22,697 shares of the business services provider’s stock worth $31,000 after acquiring an additional 9,181 shares in the last quarter.

Clear Channel Outdoor Company Profile

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Clear Channel Outdoor Holdings, Inc engages in the provision of outdoor advertising solutions. It operates through the Americas and Other segments. The Americas segment consists of operations U.S. operations excluding airports. Europe-North, which consists of operations in the U.K., the Nordics and several other countries throughout northern and central Europe, and Europe-South, which covers the operations in France, Switzerland, Spain and Italy.