iHeartMedia, Inc. (NASDAQ:IHRT) Short Interest Update

iHeartMedia, Inc. (NASDAQ:IHRT) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 5,730,000 shares, a decrease of 7.9% from the August 31st total of 6,220,000 shares. Currently, 4.9% of the shares of the company are sold short. Based on an average daily trading volume, of 685,000 shares, the days-to-cover ratio is presently 8.4 days.

Wall Street Analysts Forecast Growth

Separately, Bank of America reduced their price objective on shares of iHeartMedia from $1.70 to $1.00 and set an “underperform” rating for the company in a research note on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, iHeartMedia has a consensus rating of “Hold” and a consensus price target of $3.00.

iHeartMedia Stock Up 8.2 %

Shares of IHRT opened at $1.85 on Tuesday. iHeartMedia has a twelve month low of $0.81 and a twelve month high of $3.21. The stock has a market cap of $267.88 million, a PE ratio of -0.31, a P/E/G ratio of 0.33 and a beta of 1.70. The business’s 50-day moving average price is $1.57 and its 200-day moving average price is $1.55.

iHeartMedia (NASDAQ:IHRT) last posted its earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.08. The firm had revenue of $929.09 million for the quarter, compared to the consensus estimate of $918.03 million. Analysts expect that iHeartMedia will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iHeartMedia

Large investors have recently added to or reduced their stakes in the business. Aristides Capital LLC purchased a new stake in shares of iHeartMedia in the 4th quarter valued at about $167,000. Brigade Capital Management LP lifted its position in iHeartMedia by 169.2% during the fourth quarter. Brigade Capital Management LP now owns 368,767 shares of the company’s stock valued at $985,000 after purchasing an additional 231,767 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in iHeartMedia by 4.4% in the 1st quarter. Douglas Lane & Associates LLC now owns 8,098,512 shares of the company’s stock worth $16,926,000 after buying an additional 342,901 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of iHeartMedia in the 1st quarter worth $181,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of iHeartMedia by 169.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock valued at $84,000 after buying an additional 25,001 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

About iHeartMedia

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.