The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Clear Channel Outdoor Holdings Inc. shares valued at $19,505 were sold by PACIFIC INVESTMENT MANAGEMENT on Apr 10 ’24. At $1.55 per share, PACIFIC INVESTMENT MANAGEMENT sold 12,584 shares. The insider’s holdings dropped to 104,859,957 shares worth approximately $164.63 million following the completion of this transaction.
As published in a research note from Wells Fargo on December 20, 2023, Clear Channel Outdoor Holdings Inc. [CCO] has been rated up from an Equal weight to an Overweight and the price target has been revised to $2.75 from $1.50. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early July. As of November 11, 2021, Barrington Research has increased its “Mkt perform” rating to a “an Outperform” for CCO. Earlier on January 05, 2021, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for CCO stock which previously was a “a Buy”.
Analyzing CCO Stock Performance
During the last five days, there has been a drop of approximately -6.55%. Over the course of the year, Clear Channel Outdoor Holdings Inc. shares have dropped approximately -13.74%. Shares of the company reached a 52-week high of $2.0550 on 02/26/24 and a 52-week low of $1.4525 on 01/18/24. A 50-day SMA is recorded $1.6900, while a 200-day SMA reached $1.5344. Nevertheless, trading volume fell to 4.9 million shares from 1.42 million shares the previous day.
Support And Resistance Levels for Clear Channel Outdoor Holdings Inc. (CCO)
According to the 24-hour chart, there is a support level at 1.5133, which, if violated, would cause prices to drop to 1.4567. In the upper region, resistance lies at 1.6133. The next price resistance is at 1.6567. RSI (Relative Strength Index) is 44.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0217, which suggests the price will decrease in the coming days. Percent R is at 67.44%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Clear Channel Outdoor Holdings Inc. subject to short interest?
Stocks of Clear Channel Outdoor Holdings Inc. saw a sharp steep in short interest on Mar 15, 2024 dropping by -1.62 million shares to 23.92 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 25.54 million shares. A decline of -6.77% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.89 of the overall float, the days-to-cover ratio (short ratio) decline to 8.89.
