Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Short Interest Update

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 18,388,127 shares, an increase of 35.8% from the February 26th total of 13,543,823 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily trading volume, of 11,856,960 shares, the short-interest ratio is currently 1.6 days.

Institutional Investors Weigh In On Clear Channel Outdoor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sentinel Dome Partners LLC acquired a new stake in Clear Channel Outdoor in the fourth quarter worth about $3,470,000. Coastline Complete Wealth LLC purchased a new stake in shares of Clear Channel Outdoor during the fourth quarter worth about $55,000. Alberta Investment Management Corp acquired a new position in shares of Clear Channel Outdoor during the fourth quarter valued at about $884,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $38,000. Finally, Zazove Associates LLC raised its position in shares of Clear Channel Outdoor by 11.0% in the 4th quarter. Zazove Associates LLC now owns 1,360,000 shares of the business services provider’s stock valued at $3,006,000 after purchasing an additional 135,000 shares during the last quarter. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Clear Channel Outdoor Stock Up 0.6%

Shares of CCO opened at $2.37 on Tuesday. The company has a 50 day moving average of $2.31 and a two-hundred day moving average of $2.00. Clear Channel Outdoor has a twelve month low of $0.81 and a twelve month high of $2.43. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 47.31 and a beta of 2.30.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings results on Thursday, February 26th. The business services provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $461.52 million for the quarter, compared to analyst estimates of $449.10 million.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. TD Cowen set a $2.50 price objective on Clear Channel Outdoor in a research note on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Friday. Finally, Wells Fargo & Company boosted their target price on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the stock an “equal weight” rating in a report on Friday, February 27th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $2.31.

Clear Channel Outdoor Company Profile

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.