iHeartMedia (NASDAQ:IHRT) Upgraded to “Hold” at Barrington Research

Barrington Research upgraded shares of iHeartMedia (NASDAQ:IHRT) to a hold rating in a research note released on Tuesday,Zacks.com reports. Barrington Research also issued estimates for iHeartMedia’s Q4 2024 earnings at $0.42 EPS, FY2024 earnings at $0.13 EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.22 EPS, FY2025 earnings at ($0.24) EPS, FY2026 earnings at $0.59 EPS and FY2027 earnings at $0.09 EPS.

Separately, Bank of America upgraded iHeartMedia from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $1.00 to $3.00 in a research note on Tuesday.

iHeartMedia Stock Down 4.3 %

IHRT opened at $2.21 on Tuesday. The firm has a 50-day moving average price of $1.90 and a 200-day moving average price of $1.55. iHeartMedia has a twelve month low of $0.81 and a twelve month high of $3.12. The company has a market capitalization of $324.44 million, a price-to-earnings ratio of -0.33, a PEG ratio of 0.45 and a beta of 1.69.

Insider Buying and Selling at iHeartMedia

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IHRT. Vanguard Group Inc. boosted its holdings in iHeartMedia by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company’s stock valued at $13,754,000 after acquiring an additional 203,917 shares during the period. AQR Capital Management LLC grew its holdings in iHeartMedia by 132.4% in the 2nd quarter. AQR Capital Management LLC now owns 3,909,729 shares of the company’s stock worth $4,262,000 after acquiring an additional 2,227,676 shares during the last quarter. Aristeia Capital L.L.C. purchased a new position in shares of iHeartMedia in the second quarter valued at about $2,461,000. Acadian Asset Management LLC raised its stake in shares of iHeartMedia by 287.5% during the second quarter. Acadian Asset Management LLC now owns 784,374 shares of the company’s stock valued at $854,000 after acquiring an additional 581,980 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of iHeartMedia by 19.2% during the third quarter. GSA Capital Partners LLP now owns 485,096 shares of the company’s stock worth $897,000 after purchasing an additional 78,177 shares during the period. 93.89% of the stock is owned by institutional investors.

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.