Clear Channel Outdoor (NYSE:CCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
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. “
Several other research firms have also recently weighed in on CCO. ValuEngine cut shares of Clear Channel Outdoor from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Cleveland Research cut shares of Clear Channel Outdoor from a “buy” rating to a “neutral” rating in a report on Friday, February 9th. Finally, Scotiabank restated a “sell” rating and issued a $12.00 price target on shares of Clear Channel Outdoor in a report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.33.
A number of large investors have recently bought and sold shares of the business. Clearline Capital LP acquired a new stake in Clear Channel Outdoor in the fourth quarter worth $199,000. Stone Ridge Asset Management LLC acquired a new stake in Clear Channel Outdoor in the fourth quarter worth $235,000. Deutsche Bank AG grew its holdings in Clear Channel Outdoor by 117.1% in the fourth quarter. Deutsche Bank AG now owns 82,727 shares of the business services provider’s stock worth $379,000 after purchasing an additional 44,620 shares during the period. Ares Management LLC acquired a new stake in Clear Channel Outdoor in the fourth quarter worth $3,151,000. Finally, Angelo Gordon & CO. L.P. acquired a new stake in Clear Channel Outdoor in the fourth quarter worth $4,455,000. Institutional investors and hedge funds own 8.99% of the company’s stock.
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About Clear Channel Outdoor
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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