iHeartMedia (NASDAQ:IHRT) Downgraded to Sell Rating by Wall Street Zen

iHeartMedia (NASDAQ:IHRT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Thursday.

Other equities research analysts have also issued research reports about the company. Guggenheim lowered their target price on iHeartMedia from $5.00 to $4.50 and set a "buy" rating for the company in a research note on Monday, March 10th. The Goldman Sachs Group boosted their price target on iHeartMedia from $1.00 to $1.25 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, iHeartMedia currently has an average rating of "Hold" and a consensus target price of $2.92.

iHeartMedia Trading Up 1.0%

Shares of IHRT traded up $0.01 during mid-day trading on Thursday, reaching $1.26. The company had a trading volume of 66,070 shares, compared to its average volume of 897,759. iHeartMedia has a fifty-two week low of $0.81 and a fifty-two week high of $2.84. The firm has a fifty day simple moving average of $1.27 and a 200-day simple moving average of $1.85. The stock has a market cap of $185.74 million, a price-to-earnings ratio of -0.18 and a beta of 1.72.

iHeartMedia (NASDAQ:IHRT - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.16). The firm had revenue of $807.10 million during the quarter, compared to analyst estimates of $790.17 million. As a group, equities analysts predict that iHeartMedia will post -0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Richard J. Bressler purchased 100,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $1.79 per share, with a total value of $179,000.00. Following the transaction, the insider now owns 3,617,764 shares in the company, valued at approximately $6,475,797.56. The trade was a 2.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert W. Pittman acquired 200,000 shares of iHeartMedia stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $1.60 per share, for a total transaction of $320,000.00. Following the completion of the purchase, the chief executive officer now directly owns 4,241,389 shares of the company's stock, valued at $6,786,222.40. The trade was a 4.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 500,000 shares of company stock valued at $743,000 in the last quarter. Insiders own 8.50% of the company's stock.

Institutional Investors Weigh In On iHeartMedia

Several institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC increased its position in iHeartMedia by 64.3% in the first quarter. Acadian Asset Management LLC now owns 3,221,043 shares of the company's stock worth $5,309,000 after buying an additional 1,260,142 shares during the period. AQR Capital Management LLC increased its holdings in shares of iHeartMedia by 99.8% in the 1st quarter. AQR Capital Management LLC now owns 2,214,301 shares of the company's stock worth $3,654,000 after acquiring an additional 1,105,976 shares during the period. Deutsche Bank AG increased its holdings in shares of iHeartMedia by 25.9% in the 4th quarter. Deutsche Bank AG now owns 3,830,745 shares of the company's stock worth $7,585,000 after acquiring an additional 789,170 shares during the period. Jacobs Levy Equity Management Inc. lifted 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 purchasing an additional 610,449 shares during the last quarter. Finally, Helix Partners Management LP grew 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 worth $1,693,000 after purchasing an additional 566,163 shares during the last quarter. Institutional investors and hedge funds 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.

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