Analysts Set iHeartMedia, Inc. (NASDAQ:IHRT) Price Target at $13.00

iHeartMedia, Inc. (NASDAQ:IHRTGet Rating) has been given a consensus recommendation of “Hold” by the eight brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $13.00.

A number of research firms have recently issued reports on IHRT. Morgan Stanley cut their price objective on iHeartMedia from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Friday, October 14th. Barrington Research reduced their price objective on shares of iHeartMedia to $13.00 in a research report on Tuesday, November 15th. The Goldman Sachs Group lowered shares of iHeartMedia from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $9.00 in a research report on Wednesday, August 10th. Finally, B. Riley lifted their target price on shares of iHeartMedia from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, October 14th.

Insider Transactions at iHeartMedia

In other iHeartMedia news, CEO Robert W. Pittman purchased 14,144 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were acquired at an average cost of $7.22 per share, for a total transaction of $102,119.68. Following the completion of the purchase, the chief executive officer now owns 1,788,777 shares of the company’s stock, valued at approximately $12,914,969.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On iHeartMedia

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SNC bought a new stake in shares of iHeartMedia during the 3rd quarter valued at $27,104,000. Federated Hermes Inc. lifted its position in iHeartMedia by 121.9% during the second quarter. Federated Hermes Inc. now owns 2,225,578 shares of the company’s stock worth $17,560,000 after purchasing an additional 1,222,741 shares during the period. Vanguard Group Inc. grew its stake in iHeartMedia by 10.1% during the first quarter. Vanguard Group Inc. now owns 10,432,614 shares of the company’s stock worth $197,489,000 after buying an additional 956,001 shares in the last quarter. JAT Capital Mgmt LP increased its holdings in iHeartMedia by 69.1% in the 1st quarter. JAT Capital Mgmt LP now owns 1,624,845 shares of the company’s stock valued at $30,758,000 after buying an additional 663,922 shares during the period. Finally, Global Media & Entertainment Investments Ltd raised its position in shares of iHeartMedia by 6.6% in the 1st quarter. Global Media & Entertainment Investments Ltd now owns 10,262,305 shares of the company’s stock valued at $194,265,000 after buying an additional 630,976 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

iHeartMedia Stock Performance

Shares of IHRT stock opened at $8.04 on Tuesday. The company has a fifty day moving average price of $8.18 and a two-hundred day moving average price of $8.96. iHeartMedia has a one year low of $6.43 and a one year high of $22.12. The stock has a market cap of $1.15 billion, a P/E ratio of -5.15 and a beta of 1.64. The company has a debt-to-equity ratio of 9.37, a current ratio of 1.90 and a quick ratio of 1.90.

iHeartMedia (NASDAQ:IHRTGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. iHeartMedia had a negative net margin of 6.05% and a positive return on equity of 13.23%. The company had revenue of $988.93 million for the quarter, compared to analysts’ expectations of $982.71 million. As a group, equities analysts predict that iHeartMedia will post -1.85 EPS for the current year.

iHeartMedia Company Profile

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iHeartMedia, Inc operates as a media and entertainment company worldwide. It operates through three segments: Multiplatform Group, Digital Audio Group, and Audio & Media Services Group. The Multiplatform Group segment offers broadcast radio stations, sponsorship, and live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,400 radio station affiliates.

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