According to Zacks, “iHeartMedia Inc. is a media and entertainment company. It specializes in radio, digital, outdoor, mobile, live events, social and on-demand entertainment and information services for advertisers. iHeartMedia Inc. is based in New York. “
Several other brokerages have also issued reports on IHRT. Wolfe Research raised shares of iHeartMedia from a peer perform rating to an outperform rating and set a $24.00 price objective on the stock in a report on Thursday, March 25th. Bank of America raised shares of iHeartMedia from an underperform rating to a buy rating and set a $26.00 price target on the stock in a report on Tuesday, April 13th. B. Riley reaffirmed a buy rating on shares of iHeartMedia in a report on Tuesday, April 20th. JPMorgan Chase & Co. raised shares of iHeartMedia from a neutral rating to an overweight rating and lifted their price target for the stock from $17.00 to $29.00 in a report on Monday, May 10th. Finally, Morgan Stanley lifted their price target on shares of iHeartMedia from $20.00 to $22.00 and gave the stock an equal weight rating in a report on Monday, May 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $23.00.
In other news, CFO Michael B. Mcguinness sold 20,000 shares of iHeartMedia stock in a transaction on Friday, May 14th. The shares were sold at an average price of $22.45, for a total transaction of $449,000.00. Following the completion of the sale, the chief financial officer now directly owns 18,630 shares in the company, valued at $418,243.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company’s stock.
Several large investors have recently bought and sold shares of IHRT. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of iHeartMedia by 94.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,637 shares of the company’s stock worth $99,000 after buying an additional 3,714 shares during the period. GSA Capital Partners LLP acquired a new position in iHeartMedia during the fourth quarter valued at $277,000. Cambridge Investment Research Advisors Inc. acquired a new position in iHeartMedia during the fourth quarter valued at $933,000. SG Americas Securities LLC acquired a new position in iHeartMedia during the fourth quarter valued at $296,000. Finally, Swiss National Bank lifted its position in iHeartMedia by 3.6% during the fourth quarter. Swiss National Bank now owns 140,700 shares of the company’s stock valued at $1,826,000 after purchasing an additional 4,900 shares during the period. Institutional investors and hedge funds own 68.86% of the company’s stock.
iHeartMedia Company Profile
iHeartMedia, Inc operates as a media and entertainment company worldwide. It operates through two segments, Audio, and Audio & Media Services. The Audio segment offers broadcast radio, digital, mobile, podcasts, social, program syndication, traffic, weather, news and sports data distribution, and on-demand entertainment, as well as live events, including mobile platforms and products; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,500 radio station affiliates.
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