Clear Channel Outdoor (NYSE:CCO) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.53 and traded as high as $1.65. Clear Channel Outdoor shares last traded at $1.57, with a volume of 1,117,754 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barrington Research reissued an "outperform" rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a research report on Thursday, October 31st. TD Cowen cut their price target on Clear Channel Outdoor from $2.60 to $2.40 and set a "buy" rating on the stock in a research report on Friday, November 1st. Finally, Wells Fargo & Company downgraded Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $2.75 to $1.75 in a report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Clear Channel Outdoor presently has an average rating of "Hold" and an average price target of $2.16.

Clear Channel Outdoor Trading Down 4.3 %

The company has a 50 day simple moving average of $1.58 and a 200 day simple moving average of $1.53. The stock has a market capitalization of $767.85 million, a PE ratio of -5.41 and a beta of 3.08.

Insider Activity

In other news, major shareholder Arturo R. Moreno acquired 250,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $1.45 per share, for a total transaction of $362,500.00. Following the transaction, the insider now directly owns 52,182,534 shares in the company, valued at approximately $75,664,674.30. This represents a 0.48 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.53% of the company's stock.

Institutional Trading of Clear Channel Outdoor

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC grew its holdings in 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 worth $10,339,000 after acquiring an additional 2,242,205 shares during the period. Whitebox Advisors LLC acquired a new position in shares of Clear Channel Outdoor during the 2nd quarter worth $2,287,000. Cerity Partners LLC purchased a new position in shares of Clear Channel Outdoor in the 3rd quarter valued at about $1,730,000. Assenagon Asset Management S.A. acquired a new stake in shares of Clear Channel Outdoor in the second quarter valued at about $1,114,000. Finally, Gamco Investors INC. ET AL boosted its holdings in Clear Channel Outdoor by 21.7% during the first quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider's stock worth $5,658,000 after buying an additional 610,500 shares in the last quarter. Institutional investors and hedge funds 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.