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

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

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group increased their price target on iHeartMedia from $1.00 to $1.25 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Guggenheim cut their price objective on iHeartMedia from $5.00 to $4.50 and set a "buy" rating for the company in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $2.92.

iHeartMedia Price Performance

Shares of IHRT traded up $0.06 during mid-day trading on Thursday, hitting $1.29. 161,943 shares of the company's stock were exchanged, compared to its average volume of 774,635. iHeartMedia has a 52 week low of $0.81 and a 52 week high of $2.84. The company has a market cap of $189.13 million, a PE ratio of -0.19 and a beta of 1.72. The company has a 50-day simple moving average of $1.25 and a 200 day simple moving average of $1.83.

iHeartMedia (NASDAQ:IHRT - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.16). The business had revenue of $807.10 million for the quarter, compared to analysts' expectations of $790.17 million. On average, analysts anticipate that iHeartMedia will post -0.13 earnings per share for the current year.

Insider Activity

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

Institutional Trading of iHeartMedia

A number of institutional investors have recently bought and sold shares of IHRT. Mariner LLC grew its holdings in shares of iHeartMedia by 4.5% during the 4th quarter. Mariner LLC now owns 122,374 shares of the company's stock worth $242,000 after purchasing an additional 5,269 shares in the last quarter. SG Americas Securities LLC lifted its position in iHeartMedia by 26.6% during the fourth quarter. SG Americas Securities LLC now owns 45,648 shares of the company's stock worth $90,000 after purchasing an additional 9,592 shares during the period. ProShare Advisors LLC grew its stake in 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 buying an additional 10,061 shares in the last quarter. US Bancorp DE grew its stake in iHeartMedia by 224.0% during the first quarter. US Bancorp DE now owns 16,402 shares of the company's stock worth $27,000 after buying an additional 11,339 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in iHeartMedia by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 305,760 shares of the company's stock valued at $505,000 after buying an additional 13,414 shares during the period. Institutional investors own 93.89% of the company's stock.

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.