Clear Channel Outdoor (NYSE:CCO) Trading Down 7.1% – Should You Sell?

Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) traded down 7.1% on Thursday . The company traded as low as $1.11 and last traded at $1.11. 1,806,760 shares were traded during trading, an increase of 41% from the average session volume of 1,280,658 shares. The stock had previously closed at $1.19.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a report on Monday, February 24th.

Clear Channel Outdoor Stock Performance

The stock has a 50-day moving average of $1.37 and a two-hundred day moving average of $1.48. The company has a market cap of $561.12 million, a P/E ratio of -3.95 and a beta of 3.05.

Institutional Trading of Clear Channel Outdoor

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC boosted its stake in shares of Clear Channel Outdoor by 56.7% during the third quarter. Jane Street Group LLC now owns 1,116,893 shares of the business services provider’s stock valued at $1,787,000 after purchasing an additional 404,082 shares during the period. Barclays PLC boosted its stake in shares of Clear Channel Outdoor by 271.2% during the third quarter. Barclays PLC now owns 520,663 shares of the business services provider’s stock valued at $833,000 after purchasing an additional 380,408 shares during the period. Cerity Partners LLC purchased a new stake in shares of Clear Channel Outdoor during the third quarter valued at approximately $1,730,000. Victory Capital Management Inc. boosted its stake in shares of Clear Channel Outdoor by 5.4% during the third quarter. Victory Capital Management Inc. now owns 759,013 shares of the business services provider’s stock valued at $1,214,000 after purchasing an additional 38,913 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Clear Channel Outdoor by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider’s stock valued at $10,818,000 after purchasing an additional 54,566 shares during the period. Institutional investors own 85.52% of the company’s stock.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.