Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “Clear Channel Outdoor Holdings, based in San Antonio, TX, is a global leader in outdoor advertising displays in countries across continents. In the United States, the company operates advertising displays and has a presence of the top DMA regions. It manages a large portion of Spectacular Displays in Times Square as well as Airport, Taxi and Mall advertising worldwide. Adshel is the company’s International street furniture division. “

Other analysts also recently issued research reports about the company. ValuEngine upgraded Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. BidaskClub upgraded Clear Channel Outdoor Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $7.81.

Clear Channel Outdoor Holdings (NYSE CCO) traded up 7.78% during trading on Tuesday, reaching $4.85. The company had a trading volume of 167,187 shares. The firm has a 50-day moving average price of $4.10 and a 200 day moving average price of $4.65. Clear Channel Outdoor Holdings has a 12-month low of $3.35 and a 12-month high of $6.35. The stock has a market cap of $1.75 billion, a P/E ratio of 48.50 and a beta of 1.55.

Clear Channel Outdoor Holdings (NYSE:CCO) last announced its quarterly earnings data on Thursday, August 3rd. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Clear Channel Outdoor Holdings had a net margin of 1.40% and a negative return on equity of 3.35%. The business had revenue of $672.32 million for the quarter, compared to the consensus estimate of $672.22 million. Equities research analysts predict that Clear Channel Outdoor Holdings will post ($0.09) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors bought a new stake in Clear Channel Outdoor Holdings in the second quarter valued at about $100,000. Los Angeles Capital Management & Equity Research Inc. raised its position in Clear Channel Outdoor Holdings by 1.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,065 shares of the business services provider’s stock worth $102,000 after purchasing an additional 300 shares in the last quarter. Voya Investment Management LLC raised its position in Clear Channel Outdoor Holdings by 70.6% in the second quarter. Voya Investment Management LLC now owns 22,912 shares of the business services provider’s stock worth $111,000 after purchasing an additional 9,485 shares in the last quarter. Balyasny Asset Management LLC acquired a new position in Clear Channel Outdoor Holdings in the second quarter worth about $152,000. Finally, Laurion Capital Management LP bought a new position in Clear Channel Outdoor Holdings during the first quarter worth about $215,000. 9.64% of the stock is currently owned by institutional investors and hedge funds.

About Clear Channel Outdoor Holdings

Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. Its segments include Americas outdoor advertising (Americas) and International outdoor advertising (International).

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