Clear Channel Outdoor (NYSE:CCO) Rating Lowered to “Hold” at Zacks Research

Clear Channel Outdoor (NYSE:CCO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also commented on the company. Wells Fargo & Company increased their price target on Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research note on Wednesday. Citigroup increased their price target on shares of Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Wall Street Zen cut Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Cowen reaffirmed a “buy” rating on shares of Clear Channel Outdoor in a research note on Monday, October 20th. Finally, Barrington Research reiterated a “market perform” rating on shares of Clear Channel Outdoor in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Clear Channel Outdoor presently has an average rating of “Hold” and an average price target of $2.32.

Clear Channel Outdoor Trading Down 0.3%

Shares of NYSE:CCO traded down $0.01 during midday trading on Thursday, reaching $1.90. 2,620,605 shares of the company were exchanged, compared to its average volume of 2,765,245. The stock has a market cap of $941.84 million, a PE ratio of 47.39 and a beta of 2.63. The business’s fifty day moving average is $1.61 and its two-hundred day moving average is $1.31. Clear Channel Outdoor has a one year low of $0.81 and a one year high of $2.03.

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

Insider Activity

In related news, major shareholder Ares Management Llc sold 13,000,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $1.13, for a total transaction of $14,690,000.00. Following the completion of the transaction, the insider owned 41,197,491 shares in the company, valued at $46,553,164.83. The trade was a 23.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas purchased a new stake in Clear Channel Outdoor in the 1st quarter valued at about $39,000. Readystate Asset Management LP raised its stake in shares of Clear Channel Outdoor by 37.9% during the first quarter. Readystate Asset Management LP now owns 6,267,547 shares of the business services provider’s stock valued at $6,957,000 after acquiring an additional 1,723,417 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Clear Channel Outdoor by 20.7% in the first quarter. XTX Topco Ltd now owns 100,929 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 17,292 shares during the period. Swiss National Bank grew its stake in Clear Channel Outdoor by 9.5% in the first quarter. Swiss National Bank now owns 473,800 shares of the business services provider’s stock worth $526,000 after purchasing an additional 41,000 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Clear Channel Outdoor during the 1st quarter worth $1,612,000. 85.52% of the stock is currently owned by institutional investors.

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.