Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Get Free Report) dropped 7.1% during mid-day trading on Thursday . The company traded as low as $1.11 and last traded at $1.11. Approximately 1,806,760 shares traded hands during mid-day trading, an increase of 41% from the average daily volume of 1,280,658 shares. The stock had previously closed at $1.19.
Analyst Upgrades and Downgrades
Separately, Barrington Research reissued an “outperform” rating and set a $2.50 price target on shares of Clear Channel Outdoor in a research report on Monday, February 24th.
Check Out Our Latest Report on Clear Channel Outdoor
Clear Channel Outdoor Trading Down 8.0 %
Institutional Trading of Clear Channel Outdoor
A number of hedge funds have recently made changes to their positions in the stock. Diameter Capital Partners LP increased its position in shares of Clear Channel Outdoor by 2,210.5% in the 4th quarter. Diameter Capital Partners LP now owns 10,104,095 shares of the business services provider’s stock worth $13,843,000 after purchasing an additional 9,666,788 shares during the last quarter. Geode Capital Management LLC grew its stake in Clear Channel Outdoor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 7,849,191 shares of the business services provider’s stock worth $10,756,000 after purchasing an additional 34,262 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Clear Channel Outdoor by 9.0% in the fourth quarter. JPMorgan Chase & Co. now owns 7,371,308 shares of the business services provider’s stock valued at $10,099,000 after buying an additional 610,110 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Clear Channel Outdoor by 7.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 5,636,000 shares of the business services provider’s stock valued at $7,721,000 after buying an additional 405,500 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Clear Channel Outdoor by 3.8% during the 4th quarter. Northern Trust Corp now owns 3,205,102 shares of the business services provider’s stock worth $4,391,000 after buying an additional 117,516 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 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.
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