Clear Channel Outdoor (CCO) Coverage Initiated at Wolfe Research
Research analysts at Wolfe Research began coverage on shares of Clear Channel Outdoor (NYSE:CCO) in a report issued on Friday, The Fly reports. The firm set an “outperform” rating on the business services provider’s stock.
CCO has been the topic of several other reports. Zacks Investment Research raised shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. ValuEngine upgraded shares of Clear Channel Outdoor from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Finally, Barrington Research reiterated a “hold” rating on shares of Clear Channel Outdoor in a research note on Thursday, November 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold”.
CCO traded up $0.27 during trading on Friday, hitting $5.46. The company had a trading volume of 2,389 shares, compared to its average volume of 86,192. The stock has a market capitalization of $1.81 billion, a P/E ratio of 247.00 and a beta of 1.41. Clear Channel Outdoor has a one year low of $3.90 and a one year high of $6.38.
Hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP acquired a new stake in Clear Channel Outdoor in the 3rd quarter valued at $119,000. Appleton Partners Inc. MA increased its stake in Clear Channel Outdoor by 54.1% in the 3rd quarter. Appleton Partners Inc. MA now owns 22,705 shares of the business services provider’s stock valued at $135,000 after buying an additional 7,975 shares during the last quarter. Litespeed Management L.L.C. acquired a new stake in Clear Channel Outdoor in the 3rd quarter valued at $625,000. Schwab Charles Investment Management Inc. increased its stake in shares of Clear Channel Outdoor by 23.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 167,524 shares of the business services provider’s stock worth $721,000 after purchasing an additional 31,851 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Clear Channel Outdoor by 37.9% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 206,051 shares of the business services provider’s stock worth $1,226,000 after purchasing an additional 56,588 shares during the last quarter. Hedge funds and other institutional investors own 8.76% of the company’s stock.
Clear Channel Outdoor 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 in 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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