Clear Channel Outdoor Holdings Inc. (CCO) Is Down -12.12% in 2021 With Lots of Room to Run

Clear Channel Outdoor Holdings Inc. (NYSE: CCO) is -12.12% lower on its value in year-to-date trading and has touched a low of $0.36 and a high of $3.10 in the current 52-week trading range. The CCO stock was last observed hovering at around $1.53 in the last trading session, with the day’s loss setting it -0.08% off its average median price target of $1.60 for the next 12 months. It is also 51.67% off the consensus price target high of $3.00 offered by 8 analysts, but current levels are 3.33% higher than the price target low of $1.50 for the same period.

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Currently trading at $1.45, the stock is -6.54% and 5.16% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.97 million and changing -5.23% at the moment leaves the stock 32.48% off its SMA200. CCO registered -48.94% loss for a year compared to 6-month gain of 47.39%. The firm has a 50-day simple moving average (SMA 50) of $1.5269 and a 200-day simple moving average (SMA200) of $1.1781.

The stock witnessed a 10.69% loss in the last 1 month and extending the period to 3 months gives it a 27.19%, and is -8.81% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.52% over the week and 7.50% over the month.

Clear Channel Outdoor Holdings Inc. (CCO) has around 5900 employees, a market worth around $735.14M and $2.06B in sales. Profit margin for the company is -25.40%. Distance from 52-week low is 300.00% and -53.23% from its 52-week high. The company has generated returns on investments over the last 12 months (2.50%).

Clear Channel Outdoor Holdings Inc. (CCO) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Clear Channel Outdoor Holdings Inc. (CCO) is a “Hold”. 8 analysts offering their recommendations for the stock have an average rating of 2.90, where 5 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Clear Channel Outdoor Holdings Inc. is expected to release its quarterly report on 05/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.18 with sales reaching $494.93M over the same period.The EPS is expected to shrink by -45.80% this year, but quarterly earnings will post -32.70% year-over-year. Quarterly sales are estimated to shrink -33.60% in year-over-year returns.

Clear Channel Outdoor Holdings Inc. (CCO) Top Institutional Holders

185 institutions hold shares in Clear Channel Outdoor Holdings Inc. (CCO), with 4.25M shares held by insiders accounting for 0.91% while institutional investors hold 95.43% of the company’s shares. The shares outstanding are 464.86M, and float is at 463.07M with Short Float at 3.18%. Institutions hold 94.56% of the Float.

The top institutional shareholder in the company is Allianz Asset Management GmbH with over 104.87 million shares valued at $104.87 million. The investor’s holdings represent 22.44% of the CCO Shares outstanding. As of Sep 29, 2020, the second largest holder is Mason Capital Management, LLC with 35.83 million shares valued at $35.83 million to account for 7.67% of the shares outstanding. The other top investors are Ares Management LLC which holds 34.68 million shares representing 7.42% and valued at over $34.68 million, while Vanguard Group, Inc. (The) holds 5.71% of the shares totaling 26.69 million with a market value of $26.69 million.

Clear Channel Outdoor Holdings Inc. (CCO) Insider Activity

A total of 10 insider transactions have happened at Clear Channel Outdoor Holdings Inc. (CCO) in the last six months, with sales accounting for 8 and purchases happening 2 times. The most recent transaction is an insider purchase by MORELAND W BENJAMIN, the company’s Director. SEC filings show that MORELAND W BENJAMIN bought 400,000 shares of the company’s common stock on Aug 12 at a price of $1.18 per share for a total of $0.47 million. Following the purchase, the insider now owns 1.0 million shares.

Clear Channel Outdoor Holdings Inc. disclosed in a document filed with the SEC on Jul 29 that PACIFIC INVESTMENT MANAGEMENT (10% Owner) sold a total of 14,907 shares of the company’s common stock. The trade occurred on Jul 29 and was made at $0.92 per share for $13710.0. Following the transaction, the insider now directly holds 104.87 million shares of the CCO stock.

Still, SEC filings show that on Jul 15, PACIFIC INVESTMENT MANAGEMENT (10% Owner) disposed off 124,578 shares at an average price of $0.93 for $0.12 million. The insider now directly holds 104,129,219 shares of Clear Channel Outdoor Holdings Inc. (CCO).

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