iHeartMedia (NASDAQ:IHRT) Given New $5.00 Price Target at Guggenheim

iHeartMedia (NASDAQ:IHRT) had its price target upped by Guggenheim from $3.00 to $5.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on IHRT. Bank of America upgraded shares of iHeartMedia from an “underperform” rating to a “neutral” rating and increased their price target for the company from $1.00 to $3.00 in a research report on Tuesday, November 12th. Barrington Research upgraded shares of iHeartMedia to a “hold” rating in a report on Tuesday, November 12th.

iHeartMedia Trading Up 6.8 %

NASDAQ IHRT opened at $2.37 on Tuesday. iHeartMedia has a 12 month low of $0.81 and a 12 month high of $3.12. The stock has a 50-day simple moving average of $1.93 and a 200 day simple moving average of $1.54. The company has a market capitalization of $348.57 million, a PE ratio of -0.35 and a beta of 1.69.

Insider Activity at iHeartMedia

In other iHeartMedia news, Director James A. Rasulo sold 40,223 shares of iHeartMedia stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $2.40, for a total value of $96,535.20. Following the transaction, the director now owns 339,322 shares of the company’s stock, valued at approximately $814,372.80. The trade was a 10.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.30% of the stock is owned by insiders.

Institutional Investors Weigh In On iHeartMedia

Several large investors have recently made changes to their positions in the stock. Optas LLC bought a new stake in iHeartMedia in the 2nd quarter valued at $29,000. PFG Investments LLC lifted its holdings in shares of iHeartMedia by 53.5% in the second quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock valued at $36,000 after purchasing an additional 11,500 shares in the last quarter. FMR LLC lifted its holdings in shares of iHeartMedia by 25.2% in the third quarter. FMR LLC now owns 22,879 shares of the company’s stock valued at $42,000 after purchasing an additional 4,598 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of iHeartMedia during the third quarter worth about $45,000. Finally, Algert Global LLC grew its holdings in shares of iHeartMedia by 100.1% during the second quarter. Algert Global LLC now owns 50,506 shares of the company’s stock worth $55,000 after buying an additional 25,266 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.