Clear Channel Outdoor (NYSE:CCO) Shares Up 7.6% – Here’s What Happened

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s stock price shot up 7.6% during trading on Tuesday . The stock traded as high as $1.50 and last traded at $1.50. 1,208,642 shares traded hands during trading, an increase of 18% from the average session volume of 1,020,199 shares. The stock had previously closed at $1.39.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CCO. TD Cowen decreased their price target on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research note on Friday, November 1st. Barrington Research reissued an “outperform” rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a research note on Thursday, October 31st.

Clear Channel Outdoor Stock Up 2.5 %

The firm has a market cap of $696.94 million, a PE ratio of -4.91 and a beta of 3.03. The stock’s fifty day simple moving average is $1.42 and its two-hundred day simple moving average is $1.50.

Institutional Investors Weigh In On Clear Channel Outdoor

Institutional investors have recently made changes to their positions in the company. Stratos Wealth Advisors LLC purchased a new stake in Clear Channel Outdoor in the third quarter worth approximately $40,000. Ground Swell Capital LLC purchased a new stake in Clear Channel Outdoor in the third quarter worth approximately $34,000. GSA Capital Partners LLP purchased a new stake in Clear Channel Outdoor in the third quarter worth approximately $300,000. Victory Capital Management Inc. boosted its holdings in Clear Channel Outdoor by 5.4% in the third quarter. Victory Capital Management Inc. now owns 759,013 shares of the business services provider’s stock worth $1,214,000 after purchasing an additional 38,913 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Clear Channel Outdoor in the third quarter worth approximately $107,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

About Clear Channel Outdoor

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.