iHeartMedia (NASDAQ:IHRT) Trading 4.6% Higher

iHeartMedia, Inc. (NASDAQ:IHRTGet Rating)’s share price traded up 4.6% during trading on Wednesday . The company traded as high as $9.20 and last traded at $9.13. 1,710 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 684,538 shares. The stock had previously closed at $8.73.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TheStreet lowered iHeartMedia from a “c-” rating to a “d+” rating in a research note on Tuesday, July 26th. Bank of America downgraded iHeartMedia from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $10.00 in a research report on Friday, June 24th. Morgan Stanley decreased their target price on iHeartMedia from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, August 8th. Wells Fargo & Company downgraded iHeartMedia from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $23.00 to $9.00 in a research report on Friday, July 8th. Finally, The Goldman Sachs Group downgraded iHeartMedia from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $9.00 in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.50.

iHeartMedia Stock Up 3.9 %

The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 6.30. The business has a fifty day simple moving average of $8.47 and a two-hundred day simple moving average of $12.95. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.99 and a beta of 1.63.

Insider Buying and Selling at iHeartMedia

In related news, CEO Robert W. Pittman acquired 54,112 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were bought at an average cost of $9.31 per share, with a total value of $503,782.72. Following the completion of the acquisition, the chief executive officer now owns 1,774,633 shares of the company’s stock, valued at $16,521,833.23. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. CQS US LLC bought a new position in shares of iHeartMedia in the first quarter valued at approximately $1,711,000. Hohimer Wealth Management LLC raised its stake in shares of iHeartMedia by 5.3% in the first quarter. Hohimer Wealth Management LLC now owns 97,014 shares of the company’s stock valued at $1,836,000 after acquiring an additional 4,873 shares during the last quarter. Stonehill Capital Management LLC bought a new position in shares of iHeartMedia in the fourth quarter valued at approximately $5,968,000. GSA Capital Partners LLP bought a new position in shares of iHeartMedia in the fourth quarter valued at approximately $879,000. Finally, Allianz Asset Management GmbH raised its stake in shares of iHeartMedia by 4.0% in the fourth quarter. Allianz Asset Management GmbH now owns 22,682,770 shares of the company’s stock valued at $477,245,000 after acquiring an additional 878,492 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

iHeartMedia Company Profile

(Get Rating)

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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