Analysts Set iHeartMedia, Inc. (NASDAQ:IHRT) PT at $2.92

iHeartMedia, Inc. (NASDAQ:IHRT) has been assigned an average recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $2.9167.

A number of research firms have weighed in on IHRT. Wall Street Zen raised shares of iHeartMedia from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Zacks Research raised shares of iHeartMedia from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th.

Insider Activity at iHeartMedia

In related news, CEO Robert W. Pittman bought 117,371 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was acquired at an average price of $2.19 per share, with a total value of $257,042.49. Following the completion of the purchase, the chief executive officer directly owned 4,558,760 shares of the company’s stock, valued at approximately $9,983,684.40. This trade represents a 2.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 6.30% of the stock is owned by corporate insiders.

Institutional Trading of iHeartMedia

Several large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its stake in iHeartMedia by 42.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 18,655 shares of the company’s stock valued at $33,000 after acquiring an additional 5,591 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in iHeartMedia by 15.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,613 shares of the company’s stock valued at $77,000 after acquiring an additional 5,684 shares in the last quarter. Intech Investment Management LLC grew its stake in iHeartMedia by 11.4% during the 2nd quarter. Intech Investment Management LLC now owns 76,686 shares of the company’s stock valued at $135,000 after acquiring an additional 7,857 shares in the last quarter. ProShare Advisors LLC grew its stake in iHeartMedia by 51.5% during the 4th quarter. ProShare Advisors LLC now owns 29,588 shares of the company’s stock valued at $59,000 after acquiring an additional 10,061 shares in the last quarter. Finally, AEGON USA Investment Management LLC grew its stake in iHeartMedia by 9.9% during the 2nd quarter. AEGON USA Investment Management LLC now owns 117,010 shares of the company’s stock valued at $206,000 after acquiring an additional 10,563 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

iHeartMedia Stock Performance

IHRT opened at $2.86 on Friday. iHeartMedia has a fifty-two week low of $0.95 and a fifty-two week high of $3.00. The company has a fifty day moving average of $2.08 and a two-hundred day moving average of $1.66. The stock has a market capitalization of $429.40 million, a price-to-earnings ratio of -1.18 and a beta of 1.87.

iHeartMedia (NASDAQ:IHRT) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.26). iHeartMedia had a negative net margin of 9.68% and a negative return on equity of 2.84%. The firm had revenue of $933.65 million during the quarter, compared to analysts’ expectations of $912.35 million. On average, equities research analysts forecast that iHeartMedia will post -0.13 earnings per share for the current year.

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.