iHeartMedia (NASDAQ:IHRT – Get Rating) had its price objective dropped by Morgan Stanley from $8.00 to $5.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 16.01% from the company’s current price.
Several other analysts also recently weighed in on the company. B. Riley lowered their price objective on iHeartMedia from $22.00 to $16.00 in a research report on Wednesday, March 1st. Barrington Research cut shares of iHeartMedia from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 1st. Wells Fargo & Company cut their price target on shares of iHeartMedia from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 1st. Finally, JPMorgan Chase & Co. downgraded shares of iHeartMedia from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $10.00 to $5.00 in a research note on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, iHeartMedia has an average rating of “Hold” and an average target price of $9.43.
iHeartMedia Stock Down 9.1 %
IHRT opened at $4.31 on Thursday. The company has a market cap of $617.45 million, a P/E ratio of -2.42 and a beta of 1.74. iHeartMedia has a 12 month low of $4.26 and a 12 month high of $20.48. The business’s 50-day moving average price is $6.89 and its 200-day moving average price is $7.61. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.91.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the business. Dark Forest Capital Management LP bought a new position in shares of iHeartMedia during the fourth quarter valued at approximately $29,000. Nisa Investment Advisors LLC increased its position in iHeartMedia by 58.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,164 shares of the company’s stock valued at $59,000 after buying an additional 2,654 shares in the last quarter. Watershed Asset Management L.L.C. purchased a new position in iHeartMedia during the third quarter valued at $65,000. Jane Street Group LLC raised its stake in iHeartMedia by 43.4% during the fourth quarter. Jane Street Group LLC now owns 11,152 shares of the company’s stock valued at $68,000 after buying an additional 3,373 shares during the last quarter. Finally, Mariner LLC bought a new stake in iHeartMedia in the fourth quarter worth $70,000. 72.30% of the stock is owned by hedge funds and other institutional investors.
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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