iHeartMedia (NASDAQ:IHRT) PT Lowered to $15.00

iHeartMedia (NASDAQ:IHRTGet 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.

In other news, Director James A. Rasulo bought 40,223 shares of iHeartMedia stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average price of $11.95 per share, with a total value of $480,664.85. Following the completion of the acquisition, the director now directly owns 87,591 shares in the company, valued at $1,046,712.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert W. Pittman acquired 40,745 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were bought at an average cost of $12.71 per share, for a total transaction of $517,868.95. Following the acquisition, the chief executive officer now owns 1,394,523 shares of the company’s stock, valued at approximately $17,724,387.33. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 4,294,855 shares of company stock valued at $64,481,598. 2.90% of the stock is currently owned by insiders.

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.

Read More

Stock Target Advisor logo

Analyst Recommendations for iHeartMedia (NASDAQ:IHRT)

Receive News & Ratings for iHeartMedia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iHeartMedia and related companies with MarketBeat.com's FREE daily email newsletter.