Clear Channel Outdoor (NYSE:CCO) Stock Price Down 4.7% - What's Next?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report)'s stock price was down 4.7% on Monday . The company traded as low as $1.54 and last traded at $1.54. Approximately 109,887 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 2,028,201 shares. The stock had previously closed at $1.61.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CCO shares. Wells Fargo & Company downgraded shares of Clear Channel Outdoor from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $2.75 to $1.75 in a report on Thursday, September 19th. Barrington Research reissued an "outperform" rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a report on Monday, August 12th.

Clear Channel Outdoor Price Performance

The firm has a market capitalization of $733.06 million, a PE ratio of -1.95 and a beta of 3.07. The company's fifty day simple moving average is $1.53 and its 200 day simple moving average is $1.52.

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

Insider Buying and Selling at Clear Channel Outdoor

In other news, major shareholder Pacific Investment Management sold 46,959 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $1.69, for a total value of $79,360.71. Following the sale, the insider now directly owns 104,812,998 shares of the company's stock, valued at approximately $177,133,966.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.53% of the company's stock.

Institutional Investors Weigh In On Clear Channel Outdoor

Institutional investors and hedge funds have recently modified their holdings of the company. CCG Wealth Management LLC purchased a new stake in shares of Clear Channel Outdoor in the first quarter worth about $46,000. Quadrature Capital Ltd bought a new position in shares of Clear Channel Outdoor in the fourth quarter worth approximately $68,000. Point72 DIFC Ltd bought a new position in shares of Clear Channel Outdoor in the second quarter worth approximately $55,000. XTX Topco Ltd increased its position in shares of Clear Channel Outdoor by 28.4% in the second quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider's stock worth $114,000 after purchasing an additional 17,957 shares during the last quarter. Finally, Cowen AND Company LLC bought a new position in shares of Clear Channel Outdoor in the second quarter worth approximately $120,000. 85.52% of the stock is owned by hedge funds and other 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.