Clear Channel Outdoor Holdings Inc. (CCO) Stock Could Soon Reward Patient Investors

Clear Channel Outdoor Holdings Inc. (NYSE: CCO) is -0.55% lower on its value in year-to-date trading and has touched a low of $0.99 and a high of $1.95 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CCO stock was last observed hovering at around $1.68 in the last trading session, with the day’s gains setting it 0.13%.

Currently trading at $1.81, the stock is 6.41% and 7.24% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.78 million and changing 7.74% at the moment leaves the stock 25.41% off its SMA200. CCO registered -1.09% loss for a year compared to 6-month gain of 18.30%. The firm has a 50-day simple moving average (SMA 50) of $3.04 and a 200-day simple moving average (SMA200) of $15.26.

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The stock witnessed a 7.10% loss in the last 1 month and extending the period to 3 months gives it a 40.31%, and is 9.70% up 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 6.03% over the week and 6.03% over the month.

Profit margin for the company is -9.80%. Distance from 52-week low is 82.83% and -7.18% from its 52-week high. The company has generated returns on investments over the last 12 months (-7.31%).

Clear Channel Outdoor Holdings Inc. quarterly earnings per share for the current quarter are estimated at $0.04 with sales reaching $610.14M over the same period.The EPS is expected to shrink by -165.77% this year, but quarterly earnings will post -9.40% year-over-year. Quarterly sales are estimated to shrink -14.00% in year-over-year returns.

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

210 institutions hold shares in Clear Channel Outdoor Holdings Inc. (CCO), with institutional investors hold 108.41% of the company’s shares. The shares outstanding are 476.31M, and float is at 419.92M with Short Float at 6.31%. Institutions hold 94.39% of the Float.

The top institutional shareholder in the company is Allianz Asset Management GmbH with over 104.87 million shares valued at $143.68 million. The investor’s holdings represent 21.72% of the CCO Shares outstanding. As of Jun 29, 2023, the second largest holder is Ares Management LLC with 55.83 million shares valued at $76.49 million to account for 11.56% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 43.39 million shares representing 8.99% and valued at over $59.45 million, while Blackrock Inc. holds 5.79% of the shares totaling 27.98 million with a market value of $38.34 million.

Clear Channel Outdoor Holdings Inc. (CCO) Insider Activity

A total of 1 insider transactions have happened at Clear Channel Outdoor Holdings Inc. (CCO) in the last six months, with sales accounting for 1 and purchases happening 0 times.