Clear Channel Outdoor (NYSE:CCO) Reaches New 1-Year Low – Here’s Why

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shares reached a new 52-week low on Friday . The company traded as low as $1.09 and last traded at $1.11, with a volume of 97802 shares. The stock had previously closed at $1.12.

Analysts Set New Price Targets

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

Clear Channel Outdoor Stock Performance

The stock’s fifty day simple moving average is $1.30 and its two-hundred day simple moving average is $1.45. The company has a market capitalization of $541.51 million, a price-to-earnings ratio of -3.81 and a beta of 3.05.

Institutional Trading of Clear Channel Outdoor

A number of large investors have recently added to or reduced their stakes in CCO. Diameter Capital Partners LP lifted its position in shares of Clear Channel Outdoor by 2,210.5% during the 4th quarter. Diameter Capital Partners LP now owns 10,104,095 shares of the business services provider’s stock valued at $13,843,000 after acquiring an additional 9,666,788 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Clear Channel Outdoor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 7,849,191 shares of the business services provider’s stock valued at $10,756,000 after purchasing an additional 34,262 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Clear Channel Outdoor by 9.0% in the 4th quarter. JPMorgan Chase & Co. now owns 7,371,308 shares of the business services provider’s stock valued at $10,099,000 after purchasing an additional 610,110 shares during the period. Gamco Investors INC. ET AL increased its stake in Clear Channel Outdoor by 7.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 5,636,000 shares of the business services provider’s stock worth $7,721,000 after purchasing an additional 405,500 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Clear Channel Outdoor by 3.8% in the 4th quarter. Northern Trust Corp now owns 3,205,102 shares of the business services provider’s stock worth $4,391,000 after purchasing an additional 117,516 shares in the last quarter. 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.