Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Short Interest Down 5.2% in October

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 29,310,000 shares, a decrease of 5.2% from the October 15th total of 30,920,000 shares. Based on an average trading volume of 1,550,000 shares, the short-interest ratio is currently 18.9 days. Approximately 8.4% of the company's shares are short sold.

Insider Activity at Clear Channel Outdoor

In related news, major shareholder Arturo R. Moreno acquired 250,000 shares of the firm's stock in a transaction on Monday, November 4th. The stock was bought at an average price of $1.45 per share, for a total transaction of $362,500.00. Following the completion of the purchase, the insider now directly owns 52,182,534 shares of the company's stock, valued at approximately $75,664,674.30. The trade was a 0.48 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clear Channel Outdoor

Several institutional investors and hedge funds have recently modified their holdings of the business. Gamco Investors INC. ET AL lifted its position in Clear Channel Outdoor by 21.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider's stock worth $5,658,000 after acquiring an additional 610,500 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Clear Channel Outdoor during the second quarter valued at about $1,114,000. Gabelli Funds LLC raised its position in shares of Clear Channel Outdoor by 25.9% during the second quarter. Gabelli Funds LLC now owns 2,865,000 shares of the business services provider's stock valued at $4,040,000 after buying an additional 590,000 shares during the last quarter. Millennium Management LLC raised its position in shares of Clear Channel Outdoor by 44.0% during the second quarter. Millennium Management LLC now owns 7,332,360 shares of the business services provider's stock valued at $10,339,000 after buying an additional 2,242,205 shares during the last quarter. Finally, Whitebox Advisors LLC acquired a new position in shares of Clear Channel Outdoor during the second quarter valued at about $2,287,000. Institutional investors and hedge funds own 85.52% of the company's stock.

Clear Channel Outdoor Stock Performance

Shares of NYSE CCO traded down $0.04 during trading on Monday, hitting $1.53. The company had a trading volume of 472,620 shares, compared to its average volume of 1,951,857. Clear Channel Outdoor has a 52 week low of $1.26 and a 52 week high of $2.06. The company has a market cap of $748.29 million, a P/E ratio of -5.41 and a beta of 3.08. The business's 50-day moving average is $1.58 and its 200 day moving average is $1.53.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCO. Wells Fargo & Company downgraded shares of Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $2.75 to $1.75 in a research note on Thursday, September 19th. TD Cowen decreased their price target on Clear Channel Outdoor from $2.60 to $2.40 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, Barrington Research reiterated an "outperform" rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $2.16.

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.