iHeartMedia, Inc. (NASDAQ:IHRT) Given Consensus Rating of “Reduce” by Analysts

Shares of iHeartMedia, Inc. (NASDAQ:IHRT) have been assigned an average rating of “Reduce” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $4.3333.

IHRT has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of iHeartMedia in a research report on Thursday, January 22nd. The Goldman Sachs Group cut shares of iHeartMedia from a “neutral” rating to a “sell” rating and cut their target price for the stock from $4.00 to $3.50 in a report on Friday, January 9th. Finally, Bank of America lifted their target price on shares of iHeartMedia from $3.00 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th.

iHeartMedia Stock Up 1.2%

Shares of NASDAQ:IHRT opened at $3.49 on Tuesday. The stock has a market cap of $524.05 million, a PE ratio of -1.35, a PEG ratio of 0.30 and a beta of 1.70. The company’s fifty day moving average is $3.92 and its 200 day moving average is $3.27. iHeartMedia has a 52 week low of $0.95 and a 52 week high of $5.44.

Institutional Trading of iHeartMedia

A number of institutional investors have recently modified their holdings of IHRT. Marshall Wace LLP increased its holdings in iHeartMedia by 678.6% during the 4th quarter. Marshall Wace LLP now owns 147,698 shares of the company’s stock valued at $614,000 after purchasing an additional 128,729 shares during the period. Bank of Nova Scotia bought a new stake in shares of iHeartMedia in the 4th quarter worth approximately $142,000. Charles Schwab Investment Management Inc. increased its stake in shares of iHeartMedia by 12.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,713,611 shares of the company’s stock valued at $27,929,000 after buying an additional 741,736 shares during the period. State Street Corp increased its stake in shares of iHeartMedia by 3.9% during the fourth quarter. State Street Corp now owns 2,433,936 shares of the company’s stock valued at $10,125,000 after buying an additional 91,557 shares during the period. Finally, Ieq Capital LLC raised its holdings in shares of iHeartMedia by 12.9% during the fourth quarter. Ieq Capital LLC now owns 150,845 shares of the company’s stock valued at $628,000 after acquiring an additional 17,194 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

iHeartMedia Company Profile

iHeartMedia, Inc (NASDAQ: IHRT) is a leading media and entertainment company specializing in radio broadcasting, digital streaming and live events. The company operates more than 860 full-power AM and FM radio stations across the United States, delivering music, news, sports and talk programming to local markets. Through its flagship digital platform, iHeartRadio, the company provides listeners with free and subscription-based access to thousands of live radio stations, curated music playlists and on-demand podcasts.

Originally founded in 1972 as Clear Channel Communications, the business rebranded to iHeartMedia in 2014 to reflect the growing importance of its digital and event-driven offerings.