iHeartMedia (NASDAQ:IHRT) Price Target Lowered to $4.50 at Guggenheim

iHeartMedia (NASDAQ:IHRT) had its target price decreased by Guggenheim from $5.00 to $4.50 in a research report released on Monday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

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

iHeartMedia Price Performance

NASDAQ:IHRT opened at $1.65 on Monday. iHeartMedia has a one year low of $0.81 and a one year high of $2.84. The company has a market cap of $242.11 million, a PE ratio of -0.24 and a beta of 1.78. The firm has a 50-day moving average of $2.13 and a 200-day moving average of $2.03.

Insiders Place Their Bets

In other iHeartMedia news, CEO Robert W. Pittman bought 200,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $1.60 per share, for a total transaction of $320,000.00. Following the purchase, the chief executive officer now directly owns 4,241,389 shares of the company’s stock, valued at approximately $6,786,222.40. This trade represents a 4.95 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard J. Bressler purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $1.79 per share, for a total transaction of $179,000.00. Following the completion of the acquisition, the insider now directly owns 3,617,764 shares in the company, valued at $6,475,797.56. The trade was a 2.84 % increase in their position. The disclosure for this purchase can be found here. 6.30% of the stock is currently owned by insiders.

Institutional Trading of iHeartMedia

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its position in shares of iHeartMedia by 25.2% during the 3rd quarter. FMR LLC now owns 22,879 shares of the company’s stock valued at $42,000 after acquiring an additional 4,598 shares during the period. Mariner LLC grew its holdings in iHeartMedia by 4.5% during the fourth quarter. Mariner LLC now owns 122,374 shares of the company’s stock valued at $242,000 after purchasing an additional 5,269 shares during the period. SG Americas Securities LLC increased its holdings in iHeartMedia by 26.6% in the 4th quarter. SG Americas Securities LLC now owns 45,648 shares of the company’s stock worth $90,000 after acquiring an additional 9,592 shares during the last quarter. ProShare Advisors LLC lifted its holdings in iHeartMedia by 51.5% during the fourth quarter. ProShare Advisors LLC now owns 29,588 shares of the company’s stock valued at $59,000 after purchasing an additional 10,061 shares during the last quarter. Finally, Virtu Financial LLC boosted its position in iHeartMedia by 93.3% during the fourth quarter. Virtu Financial LLC now owns 30,010 shares of the company’s stock worth $59,000 after purchasing an additional 14,485 shares during the period. Institutional investors own 93.89% of the company’s stock.

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.