CLEAR CHANNEL O/SH (NYSE:CCO) Cut to Peer Perform at Wolfe Research

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Wolfe Research lowered shares of CLEAR CHANNEL O/SH (NYSE:CCO) from an outperform rating to a peer perform rating in a research report released on Thursday, Briefing.com Automated Import reports.

A number of other brokerages have also weighed in on CCO. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. TheStreet upgraded shares of Rent-A-Center from a c rating to a b- rating in a report on Tuesday, May 7th. Zacks Investment Research lowered shares of First Merchants from a hold rating to a sell rating in a report on Monday, July 1st. Finally, Barrington Research restated a buy rating and issued a $6.50 price objective on shares of CLEAR CHANNEL O/SH in a report on Monday, April 29th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $10.00.

Shares of NYSE CCO opened at $4.46 on Thursday. CLEAR CHANNEL O/SH has a twelve month low of $4.30 and a twelve month high of $6.38. The stock has a 50 day moving average price of $4.94.

CLEAR CHANNEL O/SH (NYSE:CCO) last announced its quarterly earnings data on Thursday, April 25th. The business services provider reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.23). The company had revenue of $587.12 million for the quarter, compared to the consensus estimate of $584.92 million. As a group, analysts anticipate that CLEAR CHANNEL O/SH will post -0.6 earnings per share for the current year.

In other CLEAR CHANNEL O/SH news, major shareholder Pacific Investment Management sold 1,201,851 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $5.05, for a total transaction of $6,069,347.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher William Eccleshare sold 82,453 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $5.16, for a total transaction of $425,457.48. Following the sale, the chief executive officer now owns 984,712 shares of the company’s stock, valued at $5,081,113.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,285,304 shares of company stock valued at $6,500,205. Company insiders own 4.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc raised its stake in CLEAR CHANNEL O/SH by 56.4% during the 4th quarter. Legal & General Group Plc now owns 8,116 shares of the business services provider’s stock valued at $42,000 after buying an additional 2,927 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of CLEAR CHANNEL O/SH by 288.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,694 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 6,458 shares during the period. Jane Street Group LLC bought a new stake in shares of CLEAR CHANNEL O/SH during the 4th quarter valued at $63,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of CLEAR CHANNEL O/SH during the 4th quarter valued at $70,000. Finally, Corient Capital Partners LLC bought a new stake in shares of CLEAR CHANNEL O/SH during the 1st quarter valued at $71,000. Institutional investors and hedge funds own 8.92% of the company’s stock.

CLEAR CHANNEL O/SH Company Profile

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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