Clear Channel Outdoor (NYSE:CCO) Hits New 52-Week Low – Here’s What Happened

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $1.18 and last traded at $1.20, with a volume of 415072 shares trading hands. The stock had previously closed at $1.22.

Analyst Upgrades and Downgrades

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

Clear Channel Outdoor Price Performance

The stock has a 50 day moving average price of $1.37 and a 200-day moving average price of $1.48. The stock has a market capitalization of $561.12 million, a P/E ratio of -3.95 and a beta of 3.05.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Clear Channel Outdoor by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 202,148 shares of the business services provider’s stock valued at $277,000 after purchasing an additional 11,015 shares during the period. MetLife Investment Management LLC increased its holdings in Clear Channel Outdoor by 8.5% during the 4th quarter. MetLife Investment Management LLC now owns 176,289 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 13,824 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Clear Channel Outdoor by 24.2% during the 4th quarter. Cubist Systematic Strategies LLC now owns 97,302 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 18,958 shares during the period. DigitalBridge Group Inc. increased its holdings in Clear Channel Outdoor by 2.4% during the 4th 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 during the period. Finally, Crewe Advisors LLC bought a new stake in Clear Channel Outdoor during the 3rd quarter valued at approximately $32,000. 85.52% of the stock is owned by institutional investors.

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.