Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Get Free Report) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 34,210,000 shares, a growth of 7.6% from the May 31st total of 31,780,000 shares. Based on an average trading volume of 1,810,000 shares, the days-to-cover ratio is presently 18.9 days. Currently, 8.4% of the company’s shares are short sold.
Clear Channel Outdoor Price Performance
Shares of Clear Channel Outdoor stock traded up $0.14 on Tuesday, hitting $1.57. 2,169,974 shares of the company’s stock traded hands, compared to its average volume of 2,130,951. The company has a fifty day moving average of $1.45 and a two-hundred day moving average of $1.61. Clear Channel Outdoor has a one year low of $1.04 and a one year high of $2.06. The company has a market capitalization of $764.83 million, a price-to-earnings ratio of -2.03 and a beta of 3.09.
Clear Channel Outdoor (NYSE:CCO – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The business had revenue of $481.75 million for the quarter, compared to the consensus estimate of $480.69 million. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Equities research analysts anticipate that Clear Channel Outdoor will post -0.25 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Institutional Investors Weigh In On Clear Channel Outdoor
A number of large investors have recently bought and sold shares of CCO. Legion Partners Asset Management LLC boosted its position in shares of Clear Channel Outdoor by 7.1% during the 3rd quarter. Legion Partners Asset Management LLC now owns 26,530,196 shares of the business services provider’s stock worth $41,918,000 after purchasing an additional 1,753,407 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Clear Channel Outdoor by 21.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider’s stock worth $5,658,000 after buying an additional 610,500 shares during the period. Wolverine Asset Management LLC boosted its holdings in Clear Channel Outdoor by 40.7% in the fourth quarter. Wolverine Asset Management LLC now owns 1,390,168 shares of the business services provider’s stock worth $2,530,000 after acquiring an additional 402,032 shares in the last quarter. Readystate Asset Management LP grew its stake in Clear Channel Outdoor by 64.2% in the fourth quarter. Readystate Asset Management LP now owns 957,401 shares of the business services provider’s stock valued at $1,742,000 after acquiring an additional 374,347 shares during the period. Finally, Apollo Management Holdings L.P. bought a new stake in shares of Clear Channel Outdoor during the first quarter valued at approximately $426,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.
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.
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