Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Get Rating) fell 8.3% during mid-day trading on Thursday after Barrington Research lowered their price target on the stock from $3.25 to $2.50. The company traded as low as $1.11 and last traded at $1.11. 15,611 shares traded hands during trading, a decline of 99% from the average session volume of 2,365,249 shares. The stock had previously closed at $1.21.
Other equities research analysts also recently issued research reports about the company. StockNews.com initiated coverage on Clear Channel Outdoor in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley reduced their price target on Clear Channel Outdoor from $2.00 to $1.50 and set an “equal weight” rating for the company in a report on Wednesday, November 9th. Finally, Cowen reduced their price target on Clear Channel Outdoor to $3.50 in a report on Monday, August 15th.
Insider Activity at Clear Channel Outdoor
In other Clear Channel Outdoor news, major shareholder Ares Management Llc purchased 200,000 shares of Clear Channel Outdoor stock in a transaction that occurred on Monday, September 26th. The stock was purchased at an average price of $1.35 per share, with a total value of $270,000.00. Following the completion of the acquisition, the insider now owns 47,871,580 shares of the company’s stock, valued at approximately $64,626,633. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders acquired 1,800,000 shares of company stock valued at $2,706,000. Insiders own 1.90% of the company’s stock.
Institutional Trading of Clear Channel Outdoor
Institutional investors and hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new stake in Clear Channel Outdoor during the first quarter valued at approximately $35,000. Wealth Advisors of Iowa LLC acquired a new stake in shares of Clear Channel Outdoor during the 1st quarter worth approximately $42,000. Fifth Third Bancorp acquired a new stake in shares of Clear Channel Outdoor during the 3rd quarter worth approximately $27,000. Covestor Ltd raised its position in shares of Clear Channel Outdoor by 12,212.4% during the 1st quarter. Covestor Ltd now owns 20,931 shares of the business services provider’s stock worth $72,000 after purchasing an additional 20,761 shares during the period. Finally, Parallax Volatility Advisers L.P. acquired a new stake in shares of Clear Channel Outdoor during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 96.70% of the company’s stock.
Clear Channel Outdoor Trading Down 8.3 %
The business has a 50-day moving average price of $1.50 and a two-hundred day moving average price of $1.52.
About Clear Channel Outdoor
Clear Channel Outdoor Holdings, Inc owns, operates, and sells advertising displays in the United States and internationally. It operates through two segments, Americas and Europe. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; spectaculars, which are customized display structures that incorporate videos, multidimensional lettering and figures, mechanical devices and moving parts, and other embellishments; wallscape, a display that drapes over or is suspended from the sides of buildings or other structures.