Clear Channel Outdoor (NYSE:CCO) Sets New 12-Month Low – Should You Sell?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) reached a new 52-week low during trading on Thursday . The company traded as low as $1.07 and last traded at $1.11, with a volume of 1297721 shares traded. The stock had previously closed at $1.10.

Wall Street Analysts Forecast Growth

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

Clear Channel Outdoor Stock Performance

The stock has a market cap of $543.96 million, a price-to-earnings ratio of -3.83 and a beta of 3.05. The firm’s 50-day simple moving average is $1.28 and its two-hundred day simple moving average is $1.44.

Institutional Trading of Clear Channel Outdoor

A number of hedge funds and other institutional investors have recently modified their holdings of CCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Clear Channel Outdoor by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider’s stock valued at $277,000 after buying an additional 11,015 shares during the period. MetLife Investment Management LLC boosted its holdings in Clear Channel Outdoor by 8.5% in the fourth quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider’s stock valued at $242,000 after acquiring an additional 13,824 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in Clear Channel Outdoor by 24.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider’s stock worth $133,000 after purchasing an additional 18,958 shares during the period. DigitalBridge Group Inc. raised its holdings in Clear Channel Outdoor by 2.4% during the 4th quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider’s stock worth $1,129,000 after purchasing an additional 19,100 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Clear Channel Outdoor by 7.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 376,987 shares of the business services provider’s stock valued at $518,000 after purchasing an additional 25,197 shares during the period. 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.