Wall Street Zen Upgrades iHeartMedia (NASDAQ:IHRT) to "Hold"

Wall Street Zen upgraded shares of iHeartMedia (NASDAQ:IHRT - Free Report) from a sell rating to a hold rating in a research note published on Saturday.

A number of other research firms have also weighed in on IHRT. Guggenheim lowered their target price on iHeartMedia from $5.00 to $4.50 and set a "buy" rating for the company in a report on Monday, March 10th. The Goldman Sachs Group upped their target price on iHeartMedia from $1.00 to $1.25 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $2.92.

iHeartMedia Price Performance

NASDAQ:IHRT remained flat at $1.69 during midday trading on Friday. The company had a trading volume of 733,862 shares, compared to its average volume of 817,172. iHeartMedia has a 52 week low of $0.95 and a 52 week high of $2.84. The stock has a market capitalization of $249.48 million, a P/E ratio of -0.20 and a beta of 1.75. The company's 50 day simple moving average is $1.26 and its 200-day simple moving average is $1.74.

iHeartMedia (NASDAQ:IHRT - Get Free Report) last announced its quarterly earnings data 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). iHeartMedia had a negative return on equity of 2.84% and a negative net margin of 32.95%. The firm had revenue of $807.10 million during the quarter, compared to the consensus estimate of $790.17 million. As a group, research analysts predict that iHeartMedia will post -0.13 EPS for the current year.

Insider Activity

In other news, CEO Robert W. Pittman bought 200,000 shares of iHeartMedia stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average price of $1.22 per share, for a total transaction of $244,000.00. Following the purchase, the chief executive officer now directly owns 4,441,389 shares of the company's stock, valued at approximately $5,418,494.58. The trade was a 4.72% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders acquired 200,725 shares of company stock worth $245,039. Insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On iHeartMedia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its position in shares of iHeartMedia by 64.3% during the 1st quarter. Acadian Asset Management LLC now owns 3,221,043 shares of the company's stock valued at $5,309,000 after acquiring an additional 1,260,142 shares during the period. AQR Capital Management LLC grew its position in shares of iHeartMedia by 99.8% during the 1st quarter. AQR Capital Management LLC now owns 2,214,301 shares of the company's stock valued at $3,654,000 after acquiring an additional 1,105,976 shares during the period. Deutsche Bank AG grew its position in shares of iHeartMedia by 25.9% during the 4th quarter. Deutsche Bank AG now owns 3,830,745 shares of the company's stock valued at $7,585,000 after acquiring an additional 789,170 shares during the period. Jacobs Levy Equity Management Inc. grew its position 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 acquiring an additional 610,449 shares during the period. Finally, Helix Partners Management LP grew its position 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 acquiring an additional 566,163 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

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.