Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Short Interest Update

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 29,310,000 shares, a decrease of 5.2% from the October 15th total of 30,920,000 shares. Based on an average trading volume of 1,550,000 shares, the days-to-cover ratio is currently 18.9 days. Approximately 8.4% of the shares of the company are sold short.

Insider Buying and Selling at Clear Channel Outdoor

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

Institutional Trading of Clear Channel Outdoor

Several large investors have recently bought and sold shares of CCO. Millennium Management LLC boosted its stake in shares of Clear Channel Outdoor by 44.0% in the 2nd quarter. Millennium Management LLC now owns 7,332,360 shares of the business services provider’s stock valued at $10,339,000 after purchasing an additional 2,242,205 shares in the last quarter. Whitebox Advisors LLC bought a new stake in shares of Clear Channel Outdoor during the second quarter worth $2,287,000. Cerity Partners LLC acquired a new position in shares of Clear Channel Outdoor during the third quarter worth $1,730,000. Assenagon Asset Management S.A. bought a new position in shares of Clear Channel Outdoor in the 2nd quarter valued at $1,114,000. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Clear Channel Outdoor by 21.7% during the 1st 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 acquiring an additional 610,500 shares in the last quarter. 85.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCO has been the topic of several research reports. Wells Fargo & Company downgraded shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $2.75 to $1.75 in a research note on Thursday, September 19th. Barrington Research restated an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research report on Thursday, October 31st. Finally, TD Cowen lowered 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 report on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.16.

Clear Channel Outdoor Price Performance

NYSE CCO opened at $1.57 on Monday. Clear Channel Outdoor has a fifty-two week low of $1.26 and a fifty-two week high of $2.06. The business has a fifty day moving average price of $1.58 and a two-hundred day moving average price of $1.53. The stock has a market capitalization of $767.86 million, a PE ratio of -5.41 and a beta of 3.08.

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.