Wells Fargo & Co initiated coverage on shares of CLEAR CHANNEL O/SH (NYSE:CCO) in a report published on Monday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $4.00 target price on the business services provider’s stock.
CCO has been the topic of several other reports. Wolfe Research cut shares of CLEAR CHANNEL O/SH from an outperform rating to a peer perform rating in a report on Thursday, July 11th. Citigroup started coverage on shares of CLEAR CHANNEL O/SH in a report on Wednesday, September 4th. They issued a neutral rating and a $2.70 price target on the stock. Barclays began coverage on shares of CLEAR CHANNEL O/SH in a report on Wednesday, September 4th. They issued an overweight rating and a $3.00 price target on the stock. Raymond James reissued an average rating and set a $16.00 target price on shares of CLEAR CHANNEL O/SH in a report on Friday, July 26th. Finally, Cowen began coverage on shares of CLEAR CHANNEL O/SH in a report on Wednesday, September 4th. They set an outperform rating and a $3.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. CLEAR CHANNEL O/SH currently has an average rating of Buy and a consensus price target of $6.90.
CCO opened at $2.67 on Monday. The firm’s fifty day moving average price is $2.59 and its 200 day moving average price is $4.29. CLEAR CHANNEL O/SH has a 12-month low of $2.06 and a 12-month high of $6.38.
In other CLEAR CHANNEL O/SH news, CEO Scott Wells bought 15,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of $2.36 per share, with a total value of $35,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Benjamin Moreland bought 400,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $2.28 per share, for a total transaction of $912,000.00. Following the completion of the acquisition, the director now directly owns 241,840 shares of the company’s stock, valued at approximately $551,395.20. The disclosure for this purchase can be found here. Insiders have acquired 435,000 shares of company stock worth $996,200 over the last three months. 4.70% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC acquired a new stake in shares of CLEAR CHANNEL O/SH in the 2nd quarter worth about $26,000. BNP Paribas Arbitrage SA increased its holdings in shares of CLEAR CHANNEL O/SH by 288.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,694 shares of the business services provider’s stock worth $47,000 after acquiring an additional 6,458 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in shares of CLEAR CHANNEL O/SH in the 2nd quarter worth about $47,000. Virtus ETF Advisers LLC acquired a new stake in shares of CLEAR CHANNEL O/SH in the 2nd quarter worth about $49,000. Finally, SG Americas Securities LLC acquired a new stake in shares of CLEAR CHANNEL O/SH in the 2nd quarter worth about $57,000. 76.05% of the stock is currently owned by institutional investors and hedge funds.
About CLEAR CHANNEL O/SH
Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates through two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.
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