Clear Channel Outdoor (NYSE:CCO) Shares Up 3.3% – Still a Buy?

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) traded up 3.3% during trading on Monday . The stock traded as high as $1.41 and last traded at $1.40. 256,983 shares were traded during trading, a decline of 75% from the average session volume of 1,039,444 shares. The stock had previously closed at $1.35.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CCO. Barrington Research restated an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research report on Monday. TD Cowen dropped their price objective on Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a report on Friday, November 1st.

Clear Channel Outdoor Trading Down 2.7 %

The firm has a market cap of $628.47 million, a price-to-earnings ratio of -4.43 and a beta of 3.03. The stock’s fifty day moving average price is $1.40 and its 200-day moving average price is $1.50.

Institutional Investors Weigh In On Clear Channel Outdoor

Several institutional investors and hedge funds have recently modified their holdings of CCO. Jane Street Group LLC grew its stake in Clear Channel Outdoor by 56.7% during the 3rd quarter. Jane Street Group LLC now owns 1,116,893 shares of the business services provider’s stock worth $1,787,000 after purchasing an additional 404,082 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Clear Channel Outdoor in the 3rd quarter valued at about $1,730,000. Barclays PLC grew its position in shares of Clear Channel Outdoor by 271.2% during the third quarter. Barclays PLC now owns 520,663 shares of the business services provider’s stock worth $833,000 after buying an additional 380,408 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Clear Channel Outdoor by 5.4% during the third quarter. Victory Capital Management Inc. now owns 759,013 shares of the business services provider’s stock worth $1,214,000 after buying an additional 38,913 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Clear Channel Outdoor by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider’s stock worth $10,818,000 after buying an additional 54,566 shares during the period. Hedge funds and other institutional investors 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.