Clear Channel Outdoor (NYSE:CCO) Shares Up 8.9% – Time to Buy?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shot up 8.9% on Friday . The company traded as high as $2.02 and last traded at $2.03. 2,424,766 shares traded hands during trading, a decline of 11% from the average session volume of 2,735,067 shares. The stock had previously closed at $1.86.

Analyst Upgrades and Downgrades

CCO has been the topic of several research analyst reports. TD Cowen boosted their price objective on shares of Clear Channel Outdoor from $2.50 to $2.80 and gave the company a “buy” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Clear Channel Outdoor in a research report on Friday. Cowen reaffirmed a “buy” rating on shares of Clear Channel Outdoor in a research report on Monday, October 20th. Morgan Stanley set a $1.75 target price on shares of Clear Channel Outdoor in a report on Wednesday, September 10th. Finally, Zacks Research upgraded Clear Channel Outdoor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Clear Channel Outdoor currently has an average rating of “Hold” and a consensus price target of $2.18.

Clear Channel Outdoor Stock Up 7.3%

The business’s fifty day moving average is $1.42 and its two-hundred day moving average is $1.22. The stock has a market cap of $991.53 million, a price-to-earnings ratio of 49.89 and a beta of 2.64.

Clear Channel Outdoor (NYSE:CCO) last released its earnings results on Tuesday, August 5th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $402.81 million for the quarter, compared to analyst estimates of $397.37 million. Clear Channel Outdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Insider Activity

In related news, major shareholder Ares Management Llc sold 13,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $1.13, for a total transaction of $14,690,000.00. Following the sale, the insider directly owned 41,197,491 shares in the company, valued at approximately $46,553,164.83. This represents a 23.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Arturo R. Moreno bought 1,000,000 shares of Clear Channel Outdoor stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $1.07 per share, for a total transaction of $1,070,000.00. Following the acquisition, the insider owned 65,612,859 shares of the company’s stock, valued at $70,205,759.13. This represents a 1.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,478,507 shares of company stock worth $1,591,573. 7.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Clear Channel Outdoor by 97.9% in the 3rd quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 8,248 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Clear Channel Outdoor by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock valued at $234,000 after buying an additional 8,976 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Clear Channel Outdoor by 2.7% in the second quarter. Russell Investments Group Ltd. now owns 561,802 shares of the business services provider’s stock valued at $657,000 after buying an additional 14,855 shares in the last quarter. Inspire Investing LLC lifted its holdings in Clear Channel Outdoor by 5.1% during the 1st quarter. Inspire Investing LLC now owns 306,009 shares of the business services provider’s stock worth $340,000 after buying an additional 14,888 shares during the last quarter. Finally, Sanders Morris Harris LLC purchased a new stake in Clear Channel Outdoor during the 3rd quarter worth about $25,000. 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.