iHeartMedia (NASDAQ:IHRT – Get Rating) had its price target dropped by equities researchers at The Goldman Sachs Group from $32.00 to $15.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 85.19% from the stock’s current price.
Several other equities analysts also recently commented on IHRT. JPMorgan Chase & Co. downgraded shares of iHeartMedia from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $28.00 to $19.00 in a research note on Monday, May 9th. Morgan Stanley cut shares of iHeartMedia from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $25.00 to $11.00 in a report on Friday, June 10th. Finally, B. Riley decreased their price target on shares of iHeartMedia from $40.00 to $36.00 in a research report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, iHeartMedia currently has an average rating of “Hold” and an average target price of $23.00.
IHRT stock traded up $0.11 during midday trading on Thursday, reaching $8.10. 9,916 shares of the company’s stock traded hands, compared to its average volume of 890,945. The company has a 50-day moving average price of $13.11 and a two-hundred day moving average price of $17.56. The firm has a market capitalization of $1.15 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 1.00 and a beta of 1.76. The company has a debt-to-equity ratio of 6.58, a quick ratio of 1.91 and a current ratio of 1.91. iHeartMedia has a 52 week low of $7.99 and a 52 week high of $28.24.
A number of large investors have recently bought and sold shares of IHRT. Goldman Sachs Group Inc. boosted its position in shares of iHeartMedia by 52.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,788,132 shares of the company’s stock worth $79,703,000 after purchasing an additional 1,299,514 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of iHeartMedia by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 10,432,614 shares of the company’s stock valued at $197,489,000 after acquiring an additional 956,001 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of iHeartMedia by 4.0% during the 4th quarter. Allianz Asset Management GmbH now owns 22,682,770 shares of the company’s stock valued at $477,245,000 after acquiring an additional 878,492 shares during the last quarter. JAT Capital Mgmt LP increased its stake in shares of iHeartMedia by 69.1% during the 1st quarter. JAT Capital Mgmt LP now owns 1,624,845 shares of the company’s stock valued at $30,758,000 after acquiring an additional 663,922 shares during the last quarter. Finally, Global Media & Entertainment Investments Ltd increased its stake in shares of iHeartMedia by 6.6% during the 1st quarter. Global Media & Entertainment Investments Ltd now owns 10,262,305 shares of the company’s stock valued at $194,265,000 after acquiring an additional 630,976 shares during the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.
iHeartMedia Company Profile (Get Rating)
iHeartMedia, Inc operates as a media and entertainment company worldwide. 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 live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,400 radio station affiliates.
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