Brokerages Set iHeartMedia, Inc. (NASDAQ:IHRT) PT at $4.07

Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have earned an average recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $4.07.

Separately, Guggenheim dropped their price objective on shares of iHeartMedia from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, March 4th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in iHeartMedia by 0.4% in the third quarter. Vanguard Group Inc. now owns 8,430,714 shares of the company’s stock valued at $26,641,000 after acquiring an additional 36,231 shares in the last quarter. Douglas Lane & Associates LLC boosted its position in shares of 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 purchasing an additional 342,901 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in iHeartMedia by 10.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,949,501 shares of the company’s stock worth $10,545,000 after buying an additional 384,092 shares during the last quarter. Federated Hermes Inc. increased its position in iHeartMedia by 2.2% during the 4th quarter. Federated Hermes Inc. now owns 1,688,805 shares of the company’s stock valued at $4,509,000 after buying an additional 35,983 shares in the last quarter. Finally, Kent Lake Capital LLC acquired a new position in iHeartMedia during the 4th quarter valued at about $1,736,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

iHeartMedia Stock Up 1.4 %

Shares of NASDAQ:IHRT opened at $2.17 on Tuesday. The business’s 50 day moving average is $2.14 and its 200 day moving average is $2.37. The stock has a market cap of $314.11 million, a P/E ratio of -0.29 and a beta of 1.88. iHeartMedia has a 52-week low of $1.77 and a 52-week high of $4.74.

iHeartMedia (NASDAQ:IHRT) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. iHeartMedia had a negative return on equity of 1,197.12% and a negative net margin of 29.40%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company earned $0.54 EPS. On average, sell-side analysts anticipate that iHeartMedia will post 0.05 EPS for the current fiscal 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.