Clear Channel Outdoor (NYSE:CCO) Trading 3.3% Higher - Should You Buy?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) was up 3.3% during mid-day trading on Monday . The company traded as high as $1.41 and last traded at $1.40. Approximately 256,983 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,039,444 shares. The stock had previously closed at $1.35.

Analysts Set New Price Targets

CCO has been the topic of several recent research reports. 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 research report on Friday, November 1st. Barrington Research reaffirmed an "outperform" rating and set a $2.50 price target on shares of Clear Channel Outdoor in a research note on Monday.

Clear Channel Outdoor Stock Down 4.3 %

The firm has a market cap of $604.01 million, a P/E ratio of -4.26 and a beta of 3.03. The business's 50 day moving average is $1.40 and its two-hundred day moving average is $1.50.

Institutional Investors Weigh In On Clear Channel Outdoor

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Clear Channel Outdoor by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider's stock valued at $277,000 after purchasing an additional 11,015 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Clear Channel Outdoor by 8.5% in the fourth quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider's stock worth $242,000 after acquiring an additional 13,824 shares during the period. Cubist Systematic Strategies LLC grew its holdings in Clear Channel Outdoor by 24.2% during the 4th quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider's stock valued at $133,000 after buying an additional 18,958 shares in the last quarter. DigitalBridge Group Inc. grew its stake in Clear Channel Outdoor by 2.4% during the fourth quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider's stock valued at $1,129,000 after acquiring an additional 19,100 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Clear Channel Outdoor during the 3rd quarter valued at $32,000. 85.52% of the stock is owned by institutional investors.

About Clear Channel Outdoor

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.