iHeartMedia (NASDAQ:IHRT) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• iHeartMedia's stock has been given a "Sell (D-)" rating by Weiss Ratings, signifying a negative outlook from analysts.
• Despite this, other analysts have recently upgraded iHeartMedia's rating from "sell" to "hold," reflecting mixed investor sentiment.
• The company reported a loss of ($0.54) EPS for the last quarter, missing analysts' expectations, but achieved a revenue of $933.65 million, exceeding forecasts.

iHeartMedia (NASDAQ:IHRT - Get Free Report)'s stock had its "sell (d-)" rating reiterated by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of iHeartMedia from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Zacks Research upgraded shares of iHeartMedia from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $2.92.

iHeartMedia Stock Performance

NASDAQ IHRT opened at $3.04 on Wednesday. The company has a market capitalization of $456.43 million, a P/E ratio of -1.25 and a beta of 1.91. The company has a fifty day moving average of $2.40 and a 200-day moving average of $1.81. iHeartMedia has a 52-week low of $0.95 and a 52-week high of $3.33.

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

Insider Activity

In other news, CEO Robert W. Pittman acquired 117,371 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $2.19 per share, for a total transaction of $257,042.49. Following the completion of the transaction, the chief executive officer owned 4,558,760 shares of the company's stock, valued at $9,983,684.40. The trade was a 2.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On iHeartMedia

Hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of iHeartMedia during the 1st quarter valued at about $46,000. Helix Partners Management LP boosted its stake in shares of iHeartMedia by 123.1% during 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. boosted its stake in shares of iHeartMedia by 22.4% during 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. Jacobs Levy Equity Management Inc. boosted its stake in shares of iHeartMedia by 139.0% during 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. Finally, Nuveen LLC bought a new stake in shares of iHeartMedia during the 1st quarter valued at about $310,000. Hedge funds and other 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.

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