Wall Street Zen Downgrades Clear Channel Outdoor (NYSE:CCO) to Sell

Clear Channel Outdoor (NYSE:CCO) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other equities analysts also recently weighed in on the stock. TD Cowen increased their price target on shares of Clear Channel Outdoor from $2.50 to $2.80 and gave the stock a “buy” rating in a research note on Monday, October 20th. Morgan Stanley set a $1.75 target price on Clear Channel Outdoor in a research report on Wednesday, September 10th. Citigroup lifted their target price on Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Barrington Research reissued a “market perform” rating on shares of Clear Channel Outdoor in a research report on Wednesday, July 23rd. Finally, UBS Group set a $2.50 price objective on Clear Channel Outdoor in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.33.

Clear Channel Outdoor Stock Up 5.3%

Shares of NYSE:CCO opened at $1.88 on Friday. The company has a market cap of $931.90 million, a P/E ratio of 46.89 and a beta of 2.63. The business has a fifty day simple moving average of $1.54 and a 200-day simple moving average of $1.28. Clear Channel Outdoor has a 52 week low of $0.81 and a 52 week high of $2.03.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Thursday, November 6th. The business services provider reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $405.64 million for the quarter, compared to analyst estimates of $402.03 million. Clear Channel Outdoor has set its Q4 2025 guidance at EPS.

Insider Activity

In other Clear Channel Outdoor 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 stock was sold at an average price of $1.13, for a total value of $14,690,000.00. Following the transaction, the insider directly owned 41,197,491 shares of the company’s stock, valued at $46,553,164.83. This represents a 23.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.70% of the stock is currently owned by insiders.

Institutional Trading of Clear Channel Outdoor

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanders Morris Harris LLC bought a new position in Clear Channel Outdoor during the 3rd quarter valued at $25,000. CWM LLC increased its position 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 worth $26,000 after purchasing an additional 8,248 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Clear Channel Outdoor in the 1st quarter valued at about $31,000. Burney Co. bought a new position in shares of Clear Channel Outdoor during the third quarter worth about $32,000. Finally, Advisors Capital Management LLC lifted its position in shares of Clear Channel Outdoor by 91.7% during the third quarter. Advisors Capital Management LLC now owns 23,000 shares of the business services provider’s stock worth $36,000 after purchasing an additional 11,000 shares during the last quarter. 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.