Clear Channel Outdoor (NYSE:CCO) Trading Up 5.2%

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report)'s stock price was up 5.2% during mid-day trading on Wednesday . The company traded as high as $1.61 and last traded at $1.61. Approximately 150,433 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 2,032,280 shares. The stock had previously closed at $1.53.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CCO shares. Barrington Research reiterated an "outperform" rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research report on Monday, August 12th. Wells Fargo & Company lowered shares of Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $2.75 to $1.75 in a research report on Thursday, September 19th.

Clear Channel Outdoor Trading Up 2.0 %

The firm has a market capitalization of $762.38 million, a P/E ratio of -2.03 and a beta of 3.07. The firm has a 50 day moving average price of $1.54 and a 200-day moving average price of $1.52.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). The company had revenue of $558.54 million during the quarter, compared to the consensus estimate of $563.75 million. Research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Pacific Investment Management sold 46,959 shares of the company's stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $1.69, for a total transaction of $79,360.71. Following the transaction, the insider now owns 104,812,998 shares of the company's stock, valued at $177,133,966.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clear Channel Outdoor

A number of hedge funds have recently added to or reduced their stakes in CCO. Gamco Investors INC. ET AL boosted its holdings in shares of Clear Channel Outdoor by 21.7% in the first quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider's stock valued at $5,658,000 after purchasing an additional 610,500 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Clear Channel Outdoor in the 2nd quarter worth $1,114,000. Gabelli Funds LLC grew its position in shares of Clear Channel Outdoor by 25.9% during the 2nd quarter. Gabelli Funds LLC now owns 2,865,000 shares of the business services provider's stock worth $4,040,000 after buying an additional 590,000 shares in the last quarter. Whitebox Advisors LLC purchased a new position in shares of Clear Channel Outdoor during the second quarter valued at $2,287,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Clear Channel Outdoor in the fourth quarter valued at about $68,000. 85.52% of the stock is currently 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.