Clear Channel Outdoor (NYSE:CCO) Hits New 1-Year Low – Should You Sell?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $1.07 and last traded at $1.11, with a volume of 1297721 shares trading hands. The stock had previously closed at $1.10.

Analyst Upgrades and Downgrades

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 Down 10.6 %

The company has a market cap of $455.75 million, a P/E ratio of -3.21 and a beta of 3.05. The business has a fifty day simple moving average of $1.26 and a two-hundred day simple moving average of $1.43.

Hedge Funds Weigh In On Clear Channel Outdoor

Several institutional investors have recently made changes to their positions in CCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Clear Channel Outdoor by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider’s stock worth $277,000 after acquiring an additional 11,015 shares during the period. MetLife Investment Management LLC raised its holdings in Clear Channel Outdoor by 8.5% in the 4th quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider’s stock worth $242,000 after purchasing an additional 13,824 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Clear Channel Outdoor by 24.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider’s stock worth $133,000 after purchasing an additional 18,958 shares during the period. DigitalBridge Group Inc. lifted its position in Clear Channel Outdoor by 2.4% during the fourth quarter. DigitalBridge Group Inc. now owns 823,833 shares of the business services provider’s stock valued at $1,129,000 after purchasing an additional 19,100 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Clear Channel Outdoor by 7.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 376,987 shares of the business services provider’s stock valued at $518,000 after purchasing an additional 25,197 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.