Clear Channel Outdoor (NYSE:CCO) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.53 and traded as high as $1.65. Clear Channel Outdoor shares last traded at $1.57, with a volume of 1,117,754 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company lowered shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $2.75 to $1.75 in a research report on Thursday, September 19th. Barrington Research reissued an “outperform” rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a research report on Thursday, October 31st. Finally, TD Cowen dropped their price target on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2.16.

Clear Channel Outdoor Stock Down 4.3 %

The company has a market cap of $767.85 million, a P/E ratio of -5.41 and a beta of 3.08. The stock’s 50-day moving average price is $1.58 and its 200 day moving average price is $1.53.

Insider Transactions at Clear Channel Outdoor

In related news, major shareholder Arturo R. Moreno acquired 250,000 shares of the stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $1.45 per share, for a total transaction of $362,500.00. Following the completion of the purchase, the insider now owns 52,182,534 shares in the company, valued at approximately $75,664,674.30. The trade was a 0.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clear Channel Outdoor

Several hedge funds and other institutional investors have recently modified their holdings of CCO. Crewe Advisors LLC acquired a new stake in Clear Channel Outdoor during the third quarter worth $32,000. Ground Swell Capital LLC acquired a new stake in Clear Channel Outdoor during the third quarter worth $34,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Clear Channel Outdoor during the third quarter worth $34,000. Stratos Wealth Advisors LLC acquired a new stake in Clear Channel Outdoor during the third quarter worth $40,000. Finally, Point72 DIFC Ltd acquired a new stake in Clear Channel Outdoor during the second quarter worth $55,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

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.