Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have been given a consensus rating of “Buy” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $28.63.
Several analysts have recently issued reports on the stock. B. Riley reduced their price target on shares of iHeartMedia from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, October 20th. Morgan Stanley upped their target price on shares of iHeartMedia from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 5th. Finally, Zacks Investment Research lowered shares of iHeartMedia from a “buy” rating to a “hold” rating in a research note on Friday.
NASDAQ IHRT opened at $20.64 on Friday. The firm’s 50-day moving average is $20.74 and its two-hundred day moving average is $23.12. iHeartMedia has a 12 month low of $13.12 and a 12 month high of $28.24. The stock has a market capitalization of $2.93 billion, a P/E ratio of -11.28, a PEG ratio of 1.80 and a beta of 1.90.
In other news, CEO Robert W. Pittman acquired 24,150 shares of iHeartMedia stock in a transaction dated Tuesday, November 9th. The shares were acquired at an average cost of $20.77 per share, with a total value of $501,595.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Richard J. Bressler purchased 22,615 shares of iHeartMedia stock in a transaction that occurred on Tuesday, November 16th. The shares were bought at an average cost of $22.14 per share, for a total transaction of $500,696.10. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in shares of iHeartMedia by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 15,860 shares of the company’s stock valued at $397,000 after acquiring an additional 664 shares during the last quarter. Clear Harbor Asset Management LLC grew its stake in iHeartMedia by 1.8% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 68,156 shares of the company’s stock worth $1,705,000 after buying an additional 1,235 shares during the last quarter. Pinz Capital Management LP acquired a new position in iHeartMedia during the 2nd quarter worth $35,000. Cubist Systematic Strategies LLC boosted its position in iHeartMedia by 0.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 173,690 shares of the company’s stock worth $4,677,000 after acquiring an additional 1,415 shares during the period. Finally, Pinebridge Investments L.P. acquired a new position in iHeartMedia during the 3rd quarter worth $53,000. Institutional investors own 72.94% of the company’s stock.
iHeartMedia Company Profile
iHeartMedia, Inc operates as a media and entertainment company worldwide. It operates through two segments, Audio, and Audio & Media Services. The Audio segment offers broadcast radio, digital, mobile, podcasts, social, program syndication, traffic, weather, news and sports data distribution, and on-demand entertainment, as well as live events, including mobile platforms and products; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,500 radio station affiliates.
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