Shares of Clear Channel Outdoor (NYSE:CCO) have received an average recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.00.
Several equities analysts recently issued reports on CCO shares. ValuEngine cut Clear Channel Outdoor from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research note on Monday, March 12th. Finally, Cleveland Research cut Clear Channel Outdoor from a “buy” rating to a “neutral” rating in a research note on Friday, February 9th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Ares Management LLC bought a new position in Clear Channel Outdoor during the fourth quarter worth $3,151,000. Angelo Gordon & CO. L.P. acquired a new stake in Clear Channel Outdoor in the fourth quarter worth $4,455,000. Clearline Capital LP acquired a new stake in Clear Channel Outdoor in the fourth quarter worth $199,000. AEGON USA Investment Management LLC increased its position in Clear Channel Outdoor by 10.3% in the fourth quarter. AEGON USA Investment Management LLC now owns 517,047 shares of the business services provider’s stock worth $2,378,000 after buying an additional 48,228 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Clear Channel Outdoor by 8.0% in the third quarter. Dimensional Fund Advisors LP now owns 532,312 shares of the business services provider’s stock worth $2,475,000 after buying an additional 39,499 shares during the period. Hedge funds and other institutional investors own 8.95% of the company’s stock.
CCO remained flat at $$4.95 during trading hours on Friday. The company had a trading volume of 77,994 shares, compared to its average volume of 409,783. Clear Channel Outdoor has a 52-week low of $3.35 and a 52-week high of $6.15. The company has a market capitalization of $1,801.72, a PE ratio of 12.69 and a beta of 1.64. The company has a debt-to-equity ratio of -4.10, a current ratio of 1.47 and a quick ratio of 1.47.
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Clear Channel Outdoor Company Profile
Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces. It operates in two segments, Americas Outdoor Advertising (Americas) and International Outdoor Advertising (International). The company offers advertising services through billboards comprising bulletins and posters; street furniture displays, including advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; and other out-of-home advertising displays, such as wallscapes and spectaculars, as well as mall displays and other small displays.
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