Stock Traders Buy High Volume of Clear Channel Outdoor Call Options (NYSE:CCO)

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) saw unusually large options trading on Wednesday. Traders bought 3,311 call options on the company. This represents an increase of 418% compared to the average volume of 639 call options.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sanders Morris Harris LLC bought a new stake in shares of Clear Channel Outdoor during the 3rd quarter worth approximately $25,000. CWM LLC increased its stake in Clear Channel Outdoor by 97.9% in the third quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock worth $26,000 after purchasing an additional 8,248 shares during the period. Captrust Financial Advisors bought a new stake in shares of Clear Channel Outdoor during the fourth quarter worth $27,000. EntryPoint Capital LLC purchased a new stake in shares of Clear Channel Outdoor during the fourth quarter valued at $28,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Clear Channel Outdoor in the fourth quarter worth about $31,000. Institutional investors own 85.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Clear Channel Outdoor from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Monday, December 29th. Zacks Research downgraded shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Citigroup lifted their price objective on shares of Clear Channel Outdoor from $1.35 to $2.10 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Finally, TD Cowen set a $2.50 target price on shares of Clear Channel Outdoor in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $2.27.

Clear Channel Outdoor Trading Up 0.6%

Clear Channel Outdoor stock opened at $2.40 on Thursday. Clear Channel Outdoor has a 12-month low of $0.81 and a 12-month high of $2.41. The firm has a 50-day moving average price of $2.15 and a 200-day moving average price of $1.77. The firm has a market capitalization of $1.19 billion, a PE ratio of -239.50 and a beta of 2.31.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.