Clear Channel Outdoor (NYSE:CCO) Stock Price Up 7.6% - Time to Buy?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report)'s share price traded up 7.6% during trading on Tuesday . The company traded as high as $1.50 and last traded at $1.50. 1,208,642 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 1,020,199 shares. The stock had previously closed at $1.39.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Cowen cut their target price on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a "buy" rating on the stock in a report on Friday, November 1st. Barrington Research reissued an "outperform" rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Thursday, October 31st.

Clear Channel Outdoor Trading Down 2.5 %

The company has a market capitalization of $667.59 million, a price-to-earnings ratio of -4.71 and a beta of 3.03. The firm's 50 day simple moving average is $1.41 and its 200-day simple moving average is $1.50.

Institutional Investors Weigh In On Clear Channel Outdoor

Several institutional investors have recently made changes to their positions in CCO. Crewe Advisors LLC purchased a new stake in shares of Clear Channel Outdoor in the 3rd quarter worth about $32,000. Ground Swell Capital LLC acquired a new position in shares of Clear Channel Outdoor during the 3rd quarter valued at about $34,000. Graham Capital Management L.P. acquired a new position in shares of Clear Channel Outdoor during the 4th quarter valued at about $36,000. Stratos Wealth Advisors LLC acquired a new position in shares of Clear Channel Outdoor during the 3rd quarter valued at about $40,000. Finally, Cibc World Markets Corp acquired a new stake in Clear Channel Outdoor during the 4th quarter worth approximately $45,000. 85.52% of the stock is currently owned by hedge funds and other 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.