iHeartMedia (IHRT) – Research Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for iHeartMedia (NASDAQ: IHRT):

  • 5/13/2022 – iHeartMedia was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “iHeartMedia Inc. is a media and entertainment company. It specializes in radio, digital, outdoor, mobile, live events, social and on-demand entertainment and information services for advertisers. iHeartMedia Inc. is based in New York. “
  • 5/9/2022 – iHeartMedia was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $19.00 price target on the stock, down previously from $28.00.
  • 5/6/2022 – iHeartMedia was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “iHeartMedia Inc. is a media and entertainment company. It specializes in radio, digital, outdoor, mobile, live events, social and on-demand entertainment and information services for advertisers. iHeartMedia Inc. is based in New York. “
  • 5/6/2022 – iHeartMedia had its price target lowered by analysts at B. Riley from $40.00 to $36.00.

Shares of IHRT opened at $11.74 on Tuesday. iHeartMedia, Inc. has a fifty-two week low of $11.38 and a fifty-two week high of $28.24. The firm has a market capitalization of $1.67 billion, a PE ratio of 51.05, a PEG ratio of 1.35 and a beta of 1.73. The company’s 50-day moving average is $17.06 and its 200-day moving average is $19.21.

iHeartMedia (NASDAQ:IHRTGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.22. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. As a group, sell-side analysts expect that iHeartMedia, Inc. will post 1.3 EPS for the current year.

In other news, Director James A. Rasulo bought 40,223 shares of the firm’s stock in a transaction on Thursday, May 12th. The shares were purchased at an average cost of $11.95 per share, with a total value of $480,664.85. Following the acquisition, the director now directly owns 87,591 shares in the company, valued at $1,046,712.45. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Media & Entertainment I. Global bought 453,496 shares of the firm’s stock in a transaction on Wednesday, April 13th. The stock was purchased at an average cost of $18.79 per share, for a total transaction of $8,521,189.84. Following the completion of the acquisition, the insider now owns 12,557,692 shares in the company, valued at $235,959,032.68. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 4,294,855 shares of company stock worth $64,481,598. 2.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of IHRT. Counterpoint Mutual Funds LLC boosted its stake in shares of iHeartMedia by 63.7% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 1,341 shares of the company’s stock valued at $28,000 after purchasing an additional 522 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in iHeartMedia during the 4th quarter worth approximately $50,000. O Shaughnessy Asset Management LLC boosted its position in iHeartMedia by 11,084.6% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 2,908 shares of the company’s stock worth $73,000 after buying an additional 2,882 shares during the period. Point72 Hong Kong Ltd acquired a new stake in iHeartMedia during the 3rd quarter worth approximately $96,000. Finally, Saltoro Capital LP acquired a new stake in iHeartMedia during the 3rd quarter worth approximately $154,000. Institutional investors own 80.20% of the company’s stock.

iHeartMedia, Inc operates as a media and entertainment company worldwide. 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 live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,400 radio station affiliates.

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