iHeartMedia (NASDAQ:IHRT) Stock Price Down 7.3% - Should You Sell?

Key Points

• iHeartMedia shares fell 7.3% to $1.64 in mid-day trading, significantly below their 50-day and 200-day moving averages of $2.50 and $3.59.
• Analyst sentiment is negative: the stock carries an average “Sell” rating, with two Sell ratings and one Hold rating. Bank of America also cut its price target from $6.00 to $5.00, while the consensus target is $4.25.
• Institutional investors own 93.89% of the company, although recent activity included both new positions and increased stakes from several investors.

iHeartMedia, Inc. (NASDAQ:IHRT - Get Free Report)'s stock price fell 7.3% during mid-day trading on Friday. The company traded as low as $1.6150 and last traded at $1.64. Approximately 435,256 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 787,884 shares. The stock had previously closed at $1.77.

Analysts Set New Price Targets

IHRT has been the topic of a number of recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of iHeartMedia in a report on Thursday. Bank of America reduced their price target on iHeartMedia from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Sell" and an average price target of $4.25.

iHeartMedia Stock Performance

The firm's 50 day moving average is $2.50 and its 200-day moving average is $3.59. The stock has a market capitalization of $253.86 million, a price-to-earnings ratio of -0.90 and a beta of 2.28.

Institutional Trading of iHeartMedia

Several large investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of iHeartMedia in the 1st quarter valued at $36,000. Diversified Trust Co acquired a new stake in shares of iHeartMedia during the 1st quarter worth about $44,000. Squarepoint Ops LLC purchased a new stake in iHeartMedia in the 2nd quarter valued at about $199,000. Krilogy Financial LLC acquired a new position in iHeartMedia in the first quarter valued at about $157,000. Finally, State of Wyoming lifted its position in iHeartMedia by 241.2% in the first quarter. State of Wyoming now owns 59,046 shares of the company's stock valued at $172,000 after buying an additional 41,742 shares during the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

iHeartMedia Company Profile

iHeartMedia, Inc is a U.S.-based audio media and entertainment company that operates broadcast radio stations, digital audio services, podcasts and audio advertising platforms. Its radio business reaches audiences across a broad range of music, news, talk, sports and entertainment programming, while its digital offerings extend that content beyond traditional terrestrial broadcasting.

The company operates the iHeartRadio platform, which provides live and on-demand radio, podcasts, music streaming, personalized stations and other digital audio content through mobile applications, connected devices and online channels.

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