CLEAR CHANNEL O/SH (NYSE:CCO) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 6,692,500 shares, an increase of 87.1% from the May 30th total of 3,577,000 shares. Approximately 17.8% of the company’s shares are sold short. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is presently 6.3 days.

Shares of NYSE:CCO traded down $0.02 during mid-day trading on Thursday, hitting $4.64. The company had a trading volume of 981,345 shares, compared to its average volume of 571,196. The company has a fifty day moving average of $4.95. The firm has a market capitalization of $1.68 billion, a P/E ratio of -8.00 and a beta of 0.77. CLEAR CHANNEL O/SH has a one year low of $4.30 and a one year high of $6.38.

CLEAR CHANNEL O/SH (NYSE:CCO) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.23). The firm had revenue of $587.12 million for the quarter, compared to the consensus estimate of $584.92 million. On average, analysts expect that CLEAR CHANNEL O/SH will post -0.6 EPS for the current year.

Several analysts have recently weighed in on CCO shares. TheStreet upgraded shares of Rent-A-Center from a “c” rating to a “b-” rating in a research note on Tuesday, May 7th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Wolfe Research lowered shares of CLEAR CHANNEL O/SH from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Zacks Investment Research lowered shares of First Merchants from a “hold” rating to a “sell” rating in a research note on Monday, July 1st. Finally, Barrington Research reiterated a “buy” rating and issued a $6.50 price objective on shares of CLEAR CHANNEL O/SH in a research note on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. CLEAR CHANNEL O/SH currently has a consensus rating of “Hold” and an average target price of $10.00.

In other CLEAR CHANNEL O/SH news, CEO Christopher William Eccleshare sold 82,453 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $5.16, for a total transaction of $425,457.48. Following the completion of the transaction, the chief executive officer now owns 984,712 shares in the company, valued at approximately $5,081,113.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Pacific Investment Management sold 1,201,851 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $5.05, for a total transaction of $6,069,347.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,285,304 shares of company stock valued at $6,500,205. Company insiders own 4.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in CLEAR CHANNEL O/SH by 39.2% during the 4th quarter. Rhumbline Advisers now owns 53,461 shares of the business services provider’s stock worth $277,000 after purchasing an additional 15,045 shares during the period. California Public Employees Retirement System boosted its position in CLEAR CHANNEL O/SH by 7.2% during the 4th quarter. California Public Employees Retirement System now owns 73,340 shares of the business services provider’s stock worth $381,000 after purchasing an additional 4,935 shares during the period. Northern Trust Corp boosted its position in CLEAR CHANNEL O/SH by 1.5% during the 4th quarter. Northern Trust Corp now owns 574,659 shares of the business services provider’s stock worth $2,982,000 after purchasing an additional 8,301 shares during the period. Dimensional Fund Advisors LP boosted its position in CLEAR CHANNEL O/SH by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 587,121 shares of the business services provider’s stock worth $3,047,000 after purchasing an additional 23,797 shares during the period. Finally, Geode Capital Management LLC boosted its position in CLEAR CHANNEL O/SH by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 367,351 shares of the business services provider’s stock worth $1,906,000 after purchasing an additional 22,387 shares during the period. Institutional investors own 8.92% of the company’s stock.

CLEAR CHANNEL O/SH Company Profile

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. 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; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.

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