Guggenheim Raises iHeartMedia (NASDAQ:IHRT) Price Target to $5.00

iHeartMedia (NASDAQ:IHRT) had its price target hoisted by Guggenheim from $3.00 to $5.00 in a research report released on Tuesday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Barrington Research upgraded shares of iHeartMedia to a “hold” rating in a research report on Tuesday, November 12th. Bank of America upgraded shares of iHeartMedia from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $1.00 to $3.00 in a research report on Tuesday, November 12th.

iHeartMedia Price Performance

iHeartMedia stock opened at $2.40 on Tuesday. The firm has a market capitalization of $352.97 million, a P/E ratio of -0.35 and a beta of 1.69. iHeartMedia has a 52-week low of $0.81 and a 52-week high of $3.12. The stock has a fifty day moving average price of $1.97 and a two-hundred day moving average price of $1.55.

Insider Transactions at iHeartMedia

In other iHeartMedia news, Director James A. Rasulo sold 40,223 shares of the stock in a transaction on Wednesday, November 13th. The shares were 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 in the company, valued at $814,372.80. This trade represents a 10.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 6.30% of the company’s stock.

Institutional Trading of iHeartMedia

A number of hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in shares of iHeartMedia by 25.2% during the third quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after purchasing an additional 4,598 shares during the period. Rhumbline Advisers lifted its position in shares of iHeartMedia by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 184,290 shares of the company’s stock worth $201,000 after purchasing an additional 7,258 shares during the period. PFG Investments LLC lifted its stake in iHeartMedia by 53.5% in the second quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock valued at $36,000 after buying an additional 11,500 shares during the period. Intech Investment Management LLC acquired a new stake in iHeartMedia in the third quarter worth $45,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in iHeartMedia by 169.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock worth $84,000 after acquiring an additional 25,001 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

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.