12 Best Advertising Stocks to Buy Now

4. Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Number of Hedge Fund Holders: 33

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) is an out-of-home advertising company that operates in America, Europe-North, and Airports segments. It specializes in providing personalized advertising solutions through an elaborate portfolio of urban street furniture, roadside billboards, airport advertising displays, and other similar displays. Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) generally operates by outsourcing the manufacturing and design of advertising structures to third parties.

The company has made significant progress in its strategic alignment, with the successful sale of Europe-North set to close by the end of March 2025. This sale is expected to generate proceeds of $625 million, with $375 million allocated to pay down the BV term loan. It has already finalized the sales of Switzerland, Italy, France, Chile, Peru, and Mexico. Only Brazil and Spain remain in the divestiture pipeline.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) is focusing on shifting to the US market to benefit from the higher growth and higher-margin businesses with more stable revenue growth that it offers. The divestitures anticipate slashing corporate expenses by approximately $35 million, bringing the total down to roughly $100 million. The company plans to be cash flow positive in 2025 and is exploring creative solutions for growth. These include strategic use of inventory through barter deals and potential joint ventures with sponsors. It takes the fourth spot on our list of the 12 best advertising stocks to buy.