iHeartMedia (NASDAQ:IHRT) Stock Rating Lowered by Wall Street Zen

Key Points

• iHeartMedia has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating decreased confidence in the company's stock performance.
• Goldman Sachs has raised its price target for iHeartMedia from $1.00 to $1.25, maintaining a "neutral" rating, which reflects mixed signals about the stock's future.
• Insider trading activity reported that CEO Robert W. Pittman purchased 200,000 shares at an average cost of $1.22, increasing his ownership stake by 4.72%.

iHeartMedia (NASDAQ:IHRT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Separately, The Goldman Sachs Group upped their target price on iHeartMedia from $1.00 to $1.25 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, iHeartMedia presently has an average rating of "Hold" and a consensus price target of $2.92.

iHeartMedia Trading Up 8.1%

iHeartMedia stock traded up $0.17 during trading hours on Friday, reaching $2.20. 882,462 shares of the company were exchanged, compared to its average volume of 763,919. iHeartMedia has a 12 month low of $0.95 and a 12 month high of $2.84. The firm has a market cap of $324.03 million, a price-to-earnings ratio of -0.90 and a beta of 1.86. The stock has a 50-day moving average of $1.82 and a 200 day moving average of $1.66.

iHeartMedia (NASDAQ:IHRT - Get Free Report) last issued 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). iHeartMedia had a negative return on equity of 2.84% and a negative net margin of 9.68%. The business had revenue of $933.65 million for the quarter, compared to analyst estimates of $912.35 million. As a group, research analysts forecast that iHeartMedia will post -0.13 EPS for the current year.

Insider Activity at iHeartMedia

In other news, CEO Robert W. Pittman purchased 200,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were acquired at an average price of $1.22 per share, for a total transaction of $244,000.00. Following the completion of the acquisition, the chief executive officer directly owned 4,441,389 shares in the company, valued at approximately $5,418,494.58. The trade was a 4.72% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On iHeartMedia

Several hedge funds have recently added to or reduced their stakes in the company. Mariner LLC lifted its stake in iHeartMedia by 4.5% in the fourth quarter. Mariner LLC now owns 122,374 shares of the company's stock valued at $242,000 after buying an additional 5,269 shares during the period. Intech Investment Management LLC raised its position in shares of iHeartMedia by 11.4% during the second quarter. Intech Investment Management LLC now owns 76,686 shares of the company's stock worth $135,000 after purchasing an additional 7,857 shares during the period. ProShare Advisors LLC raised its position in shares of iHeartMedia by 51.5% during the fourth quarter. ProShare Advisors LLC now owns 29,588 shares of the company's stock worth $59,000 after purchasing an additional 10,061 shares during the period. AEGON USA Investment Management LLC raised its position in shares of iHeartMedia by 9.9% during the second quarter. AEGON USA Investment Management LLC now owns 117,010 shares of the company's stock worth $206,000 after purchasing an additional 10,563 shares during the period. Finally, Rhumbline Advisers raised its position in shares of iHeartMedia by 7.1% during the second quarter. Rhumbline Advisers now owns 168,006 shares of the company's stock worth $296,000 after purchasing an additional 11,101 shares during the period. Institutional investors own 93.89% of the company's stock.

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.