iHeartMedia, Inc. (NASDAQ:IHRT) Given Consensus Recommendation of "Hold" by Analysts

Key Points

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iHeartMedia, Inc. (NASDAQ:IHRT - Get Free Report) has been given an average rating of "Hold" by the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $2.9167.

A number of research firms have recently issued reports on IHRT. Zacks Research upgraded iHeartMedia from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Wall Street Zen upgraded iHeartMedia from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, The Goldman Sachs Group raised their target price on iHeartMedia from $1.00 to $1.25 and gave the stock a "neutral" rating in a report on Wednesday, May 14th.

iHeartMedia Stock Performance

Shares of IHRT stock traded up $0.14 on Tuesday, reaching $2.37. The stock had a trading volume of 1,174,548 shares, compared to its average volume of 1,019,419. The stock has a market cap of $349.86 million, a P/E ratio of -0.98 and a beta of 1.86. iHeartMedia has a 1 year low of $0.95 and a 1 year high of $2.84. The company has a 50 day simple moving average of $1.92 and a 200 day simple moving average of $1.65.

iHeartMedia (NASDAQ:IHRT - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.26). The firm had revenue of $933.65 million during the quarter, compared to analysts' expectations of $912.35 million. iHeartMedia had a negative return on equity of 2.84% and a negative net margin of 9.68%. On average, equities research analysts anticipate that iHeartMedia will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert W. Pittman bought 117,371 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average cost of $2.19 per share, with a total value of $257,042.49. Following the acquisition, the chief executive officer owned 4,558,760 shares in the company, valued at $9,983,684.40. This trade represents a 2.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On iHeartMedia

A number of institutional investors have recently bought and sold shares of IHRT. US Bancorp DE raised its holdings in iHeartMedia by 224.0% in the 1st quarter. US Bancorp DE now owns 16,402 shares of the company's stock worth $27,000 after purchasing an additional 11,339 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in iHeartMedia in the 1st quarter worth $32,000. BNP Paribas Financial Markets bought a new position in iHeartMedia in the 4th quarter worth $33,000. Tower Research Capital LLC TRC raised its holdings in iHeartMedia by 341.7% during the second quarter. Tower Research Capital LLC TRC now owns 24,342 shares of the company's stock valued at $43,000 after acquiring an additional 18,831 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in iHeartMedia during the first quarter valued at about $46,000. 93.89% of the stock is owned by institutional investors.

iHeartMedia Company Profile

iHeartMedia, Inc operates as an audio media company in the United States and internationally. 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 events, and live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents syndicated radio programs and services to radio station affiliates.