iHeartMedia (NASDAQ:IHRT) Upgraded to Hold at Wall Street Zen

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

A number of other analysts have also recently issued reports 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 research note on Monday, March 10th. The Goldman Sachs Group increased 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, iHeartMedia presently has an average rating of “Hold” and a consensus price target of $2.92.

iHeartMedia Stock Performance

Shares of NASDAQ:IHRT opened at $1.69 on Friday. iHeartMedia has a 52 week low of $0.95 and a 52 week high of $2.84. The company has a market capitalization of $249.48 million, a PE ratio of -0.25 and a beta of 1.75. The company has a 50 day moving average price of $1.25 and a two-hundred day moving average price of $1.74.

iHeartMedia (NASDAQ:IHRT) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.16). The company had revenue of $807.10 million for the quarter, compared to analyst estimates of $790.17 million. On average, sell-side analysts forecast that iHeartMedia will post -0.13 earnings per share for the current year.

Insider Transactions at iHeartMedia

In related news, CEO Robert W. Pittman acquired 200,000 shares of the firm’s stock in a transaction dated 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 acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 200,725 shares of company stock valued at $245,039 in the last ninety days. 8.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IHRT. US Bancorp DE grew its stake in iHeartMedia by 224.0% in the first quarter. US Bancorp DE now owns 16,402 shares of the company’s stock valued at $27,000 after purchasing an additional 11,339 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of iHeartMedia in the first quarter valued at $32,000. BNP Paribas Financial Markets bought a new position in shares of iHeartMedia in the fourth quarter valued at $33,000. Wealth Enhancement Advisory Services LLC acquired a new position in iHeartMedia during the first quarter worth $46,000. Finally, State of Wyoming acquired a new position in iHeartMedia during the fourth quarter worth $49,000. 93.89% of the stock is currently owned by institutional investors.

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.