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

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

Wall Street Analysts Forecast Growth

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

Clear Channel Outdoor Trading Up 0.9 %

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 has a fifty day simple moving average of $1.28 and a 200 day simple moving average of $1.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CCO. Graham Capital Management L.P. bought a new stake in Clear Channel Outdoor in the 4th quarter valued at $36,000. Cibc World Markets Corp bought a new stake in Clear Channel Outdoor in the fourth quarter valued at about $45,000. KLP Kapitalforvaltning AS bought a new stake in Clear Channel Outdoor in the fourth quarter valued at about $53,000. Dynamic Technology Lab Private Ltd acquired a new position in Clear Channel Outdoor in the third quarter worth about $65,000. Finally, Jacksonville Wealth Management LLC bought a new position in Clear Channel Outdoor during the fourth quarter worth about $62,000. 85.52% of the stock is owned by institutional investors.

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.