Clear Channel Outdoor (NYSE:CCO) PT Lowered to $1.10 at Citigroup

Clear Channel Outdoor (NYSE:CCOGet Rating) had its target price lowered by Citigroup from $1.65 to $1.10 in a research report report published on Tuesday morning, The Fly reports.

CCO has been the topic of a number of other reports. StockNews.com began coverage on shares of Clear Channel Outdoor in a report on Wednesday, October 12th. They issued a hold rating on the stock. Barrington Research lowered their price target on shares of Clear Channel Outdoor from $3.25 to $2.50 in a report on Wednesday, November 16th. Cowen lowered their price target on shares of Clear Channel Outdoor to $3.50 in a report on Monday, August 15th. Finally, Morgan Stanley lowered their price target on shares of Clear Channel Outdoor from $2.00 to $1.50 and set an equal weight rating on the stock in a report on Wednesday, November 9th.

Clear Channel Outdoor Trading Up 2.8 %

Shares of Clear Channel Outdoor stock opened at $1.09 on Tuesday. Clear Channel Outdoor has a 12-month low of $0.91 and a 12-month high of $4.10. The company has a market cap of $518.89 million, a price-to-earnings ratio of -3.89 and a beta of 2.43. The company’s 50-day moving average price is $1.41 and its 200-day moving average price is $1.47.

Insider Activity at Clear Channel Outdoor

In related news, major shareholder Ares Management Llc bought 200,000 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were acquired at an average cost of $1.35 per share, with a total value of $270,000.00. Following the completion of the purchase, the insider now directly owns 47,871,580 shares of the company’s stock, valued at approximately $64,626,633. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 1,800,000 shares of company stock valued at $2,706,000 over the last three months. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fifth Third Bancorp purchased a new position in shares of Clear Channel Outdoor during the third quarter worth approximately $27,000. Parallax Volatility Advisers L.P. purchased a new position in shares of Clear Channel Outdoor during the third quarter worth approximately $30,000. Metropolitan Life Insurance Co NY grew its holdings in shares of Clear Channel Outdoor by 67.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 22,697 shares of the business services provider’s stock worth $31,000 after purchasing an additional 9,181 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Clear Channel Outdoor in the first quarter worth approximately $35,000. Finally, Wealth Advisors of Iowa LLC bought a new position in shares of Clear Channel Outdoor in the first quarter worth approximately $42,000. 96.70% of the stock is owned by hedge funds and other institutional investors.

About Clear Channel Outdoor

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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.

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