Clear Channel Outdoor (NYSE:CCO) Trading Down 7.1% – Should You Sell?

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) traded down 7.1% during trading on Thursday . The company traded as low as $1.11 and last traded at $1.11. 1,806,760 shares traded hands during mid-day trading, an increase of 41% from the average session volume of 1,280,658 shares. The stock had previously closed at $1.19.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a research note on Monday, February 24th.

Clear Channel Outdoor Stock Up 4.1 %

The business has a fifty day simple moving average of $1.37 and a 200-day simple moving average of $1.48. The firm has a market cap of $561.12 million, a P/E ratio of -3.95 and a beta of 3.05.

Hedge Funds Weigh In On Clear Channel Outdoor

A number of institutional investors have recently added to or reduced their stakes in CCO. GSA Capital Partners LLP bought a new position in Clear Channel Outdoor in the third quarter worth $300,000. Victory Capital Management Inc. increased its holdings in shares of Clear Channel Outdoor by 5.4% during the third quarter. Victory Capital Management Inc. now owns 759,013 shares of the business services provider’s stock valued at $1,214,000 after acquiring an additional 38,913 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Clear Channel Outdoor during the third quarter valued at $107,000. Cerity Partners LLC bought a new position in shares of Clear Channel Outdoor during the third quarter valued at $1,730,000. Finally, Algert Global LLC increased its holdings in shares of Clear Channel Outdoor by 77.8% during the third quarter. Algert Global LLC now owns 642,620 shares of the business services provider’s stock valued at $1,028,000 after acquiring an additional 281,210 shares in the last quarter. Institutional investors 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.