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

Key Points

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iHeartMedia, Inc. (NASDAQ:IHRT - Get Free Report) has earned an average rating of "Hold" from the five research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $2.9167.

Several research analysts have recently commented on the company. Wall Street Zen upgraded iHeartMedia from a "sell" rating to a "hold" rating in a research report on Sunday. Zacks Research upgraded iHeartMedia from a "strong sell" rating to a "hold" rating in a research report on Friday. Finally, The Goldman Sachs Group raised their price target on iHeartMedia from $1.00 to $1.25 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th.

Insider Activity

In related news, CEO Robert W. Pittman acquired 117,371 shares of iHeartMedia stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of $2.19 per share, for a total transaction of $257,042.49. Following the completion of the purchase, the chief executive officer owned 4,558,760 shares in the company, valued at approximately $9,983,684.40. The trade was a 2.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.30% of the company's stock.

Institutional Trading of iHeartMedia

A number of hedge funds and other institutional investors have recently bought and sold shares of IHRT. Acadian Asset Management LLC raised its stake in iHeartMedia by 64.3% in the first quarter. Acadian Asset Management LLC now owns 3,221,043 shares of the company's stock valued at $5,309,000 after buying an additional 1,260,142 shares in the last quarter. AQR Capital Management LLC increased its position in shares of iHeartMedia by 99.8% during the first quarter. AQR Capital Management LLC now owns 2,214,301 shares of the company's stock worth $3,654,000 after purchasing an additional 1,105,976 shares in the last quarter. Deutsche Bank AG increased its position in iHeartMedia by 25.9% in the 4th quarter. Deutsche Bank AG now owns 3,830,745 shares of the company's stock valued at $7,585,000 after acquiring an additional 789,170 shares during the period. Jacobs Levy Equity Management Inc. increased its position in iHeartMedia by 139.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,049,664 shares of the company's stock valued at $1,732,000 after acquiring an additional 610,449 shares during the period. Finally, Helix Partners Management LP increased its position in iHeartMedia by 123.1% in the 1st quarter. Helix Partners Management LP now owns 1,026,163 shares of the company's stock valued at $1,693,000 after acquiring an additional 566,163 shares during the period. 93.89% of the stock is currently owned by institutional investors and hedge funds.

iHeartMedia Stock Down 0.4%

NASDAQ:IHRT opened at $2.24 on Tuesday. iHeartMedia has a 52 week low of $0.95 and a 52 week high of $2.84. The company has a market capitalization of $330.67 million, a P/E ratio of -0.92 and a beta of 1.86. The stock's fifty day moving average is $1.88 and its two-hundred day moving average is $1.65.

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

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.

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