Clear Channel Outdoor (NYSE:CCO) Trading Up 5.2%

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s stock price was up 5.2% during trading on Tuesday . The company traded as high as $1.51 and last traded at $1.51. Approximately 73,156 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,114,135 shares. The stock had previously closed at $1.43.

Analyst Ratings Changes

Separately, Barrington Research restated an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a research report on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.16.

Clear Channel Outdoor Stock Performance

The stock’s 50-day moving average price is $1.45 and its 200-day moving average price is $1.61. The company has a market capitalization of $774.60 million, a price-to-earnings ratio of -2.06 and a beta of 3.09.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $481.75 million for the quarter, compared to analyst estimates of $480.69 million. During the same quarter in the previous year, the business posted ($0.23) earnings per share. Analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CCO. CCG Wealth Management LLC acquired a new position in shares of Clear Channel Outdoor during the 1st quarter worth approximately $46,000. Quadrature Capital Ltd acquired a new position in shares of Clear Channel Outdoor during the 4th quarter worth approximately $68,000. BNP Paribas Financial Markets raised its position in shares of Clear Channel Outdoor by 63.3% during the 1st quarter. BNP Paribas Financial Markets now owns 212,246 shares of the business services provider’s stock worth $350,000 after purchasing an additional 82,286 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Clear Channel Outdoor by 41.4% during the 4th quarter. SG Americas Securities LLC now owns 202,741 shares of the business services provider’s stock worth $369,000 after purchasing an additional 59,324 shares during the last quarter. Finally, Apollo Management Holdings L.P. acquired a new position in shares of Clear Channel Outdoor during the 1st quarter worth approximately $426,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Clear Channel Outdoor Company Profile

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.