iHeartMedia, Inc. (NASDAQ:IHRT) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• iHeartMedia, Inc. has received a consensus recommendation of "Hold" from six analysts, with one sell rating, four hold ratings, and one buy rating.
• The company's stock price target among brokerages is an average of $2.9167 over the next twelve months, despite recent poor earnings performance.
• CEO Robert W. Pittman recently acquired 117,371 shares of iHeartMedia stock, increasing his ownership by 2.64%, bringing his total ownership to 4,558,760 shares valued at approximately $9.98 million.

Shares of iHeartMedia, Inc. (NASDAQ:IHRT - Get Free Report) have earned an average rating of "Hold" from the six ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to 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 equities analysts recently issued reports on the company. Zacks Research raised iHeartMedia from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Wall Street Zen raised shares of iHeartMedia from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of iHeartMedia in a report on Saturday, September 27th.

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.

Hedge Funds Weigh In On iHeartMedia

Several hedge funds and other institutional investors have recently made changes to their positions in IHRT. Wealth Enhancement Advisory Services LLC acquired a new stake in iHeartMedia in the first quarter valued at approximately $46,000. Millennium Management LLC raised its holdings in shares of iHeartMedia by 581.2% in the 4th quarter. Millennium Management LLC now owns 232,150 shares of the company's stock valued at $460,000 after purchasing an additional 198,071 shares in the last quarter. Helix Partners Management LP raised its holdings in shares of 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 purchasing an additional 566,163 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of iHeartMedia by 22.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,258,206 shares of the company's stock valued at $3,726,000 after purchasing an additional 412,769 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of 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 purchasing an additional 610,449 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

iHeartMedia Stock Performance

Shares of IHRT stock opened at $3.01 on Wednesday. The firm's 50 day moving average price is $2.38 and its 200-day moving average price is $1.80. iHeartMedia has a one year low of $0.95 and a one year high of $3.33. The firm has a market cap of $451.92 million, a P/E ratio of -1.24 and a beta of 1.91.

iHeartMedia (NASDAQ:IHRT - Get Free Report) last released its quarterly 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). The business had revenue of $933.65 million during the quarter, compared to the consensus estimate of $912.35 million. As a group, research analysts predict that iHeartMedia will post -0.13 EPS for the current fiscal year.

About iHeartMedia

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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