Wall Street Zen Upgrades iHeartMedia (NASDAQ:IHRT) to “Hold”

iHeartMedia (NASDAQ:IHRT) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

Separately, The Goldman Sachs Group raised their price objective on iHeartMedia from $1.00 to $1.25 and gave the stock a “neutral” rating in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.92.

iHeartMedia Stock Performance

Shares of NASDAQ:IHRT opened at $2.25 on Friday. iHeartMedia has a one year low of $0.95 and a one year high of $2.84. The business’s fifty day moving average price is $1.86 and its two-hundred day moving average price is $1.65. The stock has a market cap of $332.15 million, a PE ratio of -0.93 and a beta of 1.86.

iHeartMedia (NASDAQ:IHRT) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.26). iHeartMedia had a negative return on equity of 2.84% and a negative net margin of 9.68%. The business had revenue of $933.65 million for the quarter, compared to analyst estimates of $912.35 million. As a group, equities research analysts predict that iHeartMedia will post -0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iHeartMedia

Several hedge funds have recently made changes to their positions in the business. Deutsche Bank AG boosted its holdings in iHeartMedia by 25.9% in the fourth quarter. Deutsche Bank AG now owns 3,830,745 shares of the company’s stock valued at $7,585,000 after acquiring an additional 789,170 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in iHeartMedia by 2.7% in the second quarter. Acadian Asset Management LLC now owns 3,307,000 shares of the company’s stock valued at $5,815,000 after acquiring an additional 85,957 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in iHeartMedia by 20.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,000,000 shares of the company’s stock valued at $5,940,000 after acquiring an additional 500,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in iHeartMedia by 22.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,872,316 shares of the company’s stock valued at $4,739,000 after acquiring an additional 532,414 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in iHeartMedia by 7.1% in the second quarter. Geode Capital Management LLC now owns 2,822,306 shares of the company’s stock valued at $4,968,000 after acquiring an additional 186,402 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

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.