Clear Channel Outdoor (NYSE:CCO) Shares Gap Up - Here's What Happened

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $1.24, but opened at $1.34. Clear Channel Outdoor shares last traded at $1.24, with a volume of 182,718 shares.

Analysts Set New Price Targets

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

Clear Channel Outdoor Trading Down 1.2 %

The company has a market capitalization of $629.72 million, a PE ratio of -4.43 and a beta of 3.03. The stock's fifty day moving average is $1.39 and its two-hundred day moving average is $1.49.

Institutional Investors Weigh In On Clear Channel Outdoor

Large investors have recently modified their holdings of the stock. Crewe Advisors LLC bought a new position in Clear Channel Outdoor during the third quarter valued at $32,000. Graham Capital Management L.P. bought a new position in shares of Clear Channel Outdoor during the 4th quarter worth $36,000. Cibc World Markets Corp purchased a new stake in Clear Channel Outdoor in the 4th quarter worth about $45,000. KLP Kapitalforvaltning AS purchased a new stake in Clear Channel Outdoor in the 4th quarter worth about $53,000. Finally, Jacksonville Wealth Management LLC bought a new stake in Clear Channel Outdoor in the 4th quarter valued at about $62,000. Hedge funds and other institutional investors 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.