Clear Channel Outdoor (NYSE:CCO) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.34 and traded as high as $2.42. Clear Channel Outdoor shares last traded at $2.4150, with a volume of 2,235,810 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Wednesday, June 24th. TD Cowen reiterated a “hold” rating and set a $2.43 price objective (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $2.29.

Clear Channel Outdoor Stock Up 0.6%

The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -13.42 and a beta of 1.95. The stock has a 50 day moving average of $2.40 and a 200 day moving average of $2.34.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $373.86 million during the quarter, compared to analysts’ expectations of $348.71 million. Analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.06 earnings per share for the current year.

Insider Buying and Selling at Clear Channel Outdoor

In other news, Director Raymond T. White sold 2,500,900 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $2.40, for a total value of $6,002,160.00. Following the completion of the sale, the director directly owned 91,003 shares in the company, valued at approximately $218,407.20. The trade was a 96.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 26,239,967 shares of company stock valued at $62,975,921. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clear Channel Outdoor

Hedge funds have recently added to or reduced their stakes in the business. Carmignac Gestion acquired a new position in Clear Channel Outdoor in the first quarter worth $139,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Clear Channel Outdoor during the first quarter worth $32,000. Groupe la Francaise acquired a new stake in shares of Clear Channel Outdoor during the first quarter worth $3,014,000. Bank of America Corp DE lifted its position in shares of Clear Channel Outdoor by 94.4% in the 1st quarter. Bank of America Corp DE now owns 905,024 shares of the business services provider’s stock worth $2,145,000 after buying an additional 439,481 shares during the last quarter. Finally, Amundi lifted its position in shares of Clear Channel Outdoor by 171.4% in the 1st quarter. Amundi now owns 44,297 shares of the business services provider’s stock worth $105,000 after buying an additional 27,978 shares during the last quarter. Institutional investors and hedge funds own 85.52% of the company’s stock.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.