Clear Channel Outdoor (NYSE:CCO) Shares Gap Up – Here’s What Happened

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) gapped up before the market opened on Tuesday . The stock had previously closed at $1.24, but opened at $1.34. Clear Channel Outdoor shares last traded at $1.24, with a volume of 182,718 shares.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a research report on Monday, February 24th.

Clear Channel Outdoor Trading Up 2.0 %

The firm has a market cap of $619.92 million, a P/E ratio of -4.36 and a beta of 3.03. The company’s 50-day moving average is $1.39 and its two-hundred day moving average is $1.49.

Institutional Investors Weigh In On Clear Channel Outdoor

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC boosted its holdings in 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 worth $1,787,000 after purchasing an additional 404,082 shares during the last quarter. Cerity Partners LLC purchased a new stake in Clear Channel Outdoor during the third quarter worth about $1,730,000. Barclays PLC raised its position in Clear Channel Outdoor by 271.2% in the third quarter. Barclays PLC now owns 520,663 shares of the business services provider’s stock worth $833,000 after acquiring an additional 380,408 shares during the period. Victory Capital Management Inc. raised its position in Clear Channel Outdoor by 5.4% in the third quarter. Victory Capital Management Inc. now owns 759,013 shares of the business services provider’s stock worth $1,214,000 after acquiring an additional 38,913 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Clear Channel Outdoor by 0.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider’s stock valued at $10,818,000 after acquiring an additional 54,566 shares during the period. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Company Profile

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.