iHeartMedia, Inc. (NASDAQ:IHRT) Short Interest Up 5.0% in January

iHeartMedia, Inc. (NASDAQ:IHRT) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 6,450,000 shares, a growth of 5.0% from the January 15th total of 6,140,000 shares. Based on an average daily volume of 968,200 shares, the days-to-cover ratio is currently 6.7 days. Approximately 5.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Guggenheim raised their price objective on shares of iHeartMedia from $3.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Barrington Research upgraded shares of iHeartMedia to a “hold” rating in a report on Tuesday, November 12th. Finally, Bank of America raised shares of iHeartMedia from an “underperform” rating to a “neutral” rating and increased their target price for the company from $1.00 to $3.00 in a research report on Tuesday, November 12th.

iHeartMedia Price Performance

NASDAQ IHRT opened at $2.26 on Wednesday. The firm’s fifty day moving average price is $2.16 and its 200 day moving average price is $1.98. The company has a market capitalization of $332.38 million, a price-to-earnings ratio of -0.33 and a beta of 1.73. iHeartMedia has a 12 month low of $0.81 and a 12 month high of $3.04.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its position in iHeartMedia by 513.4% during the 3rd quarter. Barclays PLC now owns 362,060 shares of the company’s stock worth $670,000 after purchasing an additional 303,034 shares during the last quarter. JPMorgan Chase & Co. grew its position in iHeartMedia by 3.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,062,753 shares of the company’s stock worth $3,816,000 after purchasing an additional 71,921 shares during the last quarter. GSA Capital Partners LLP grew its position in iHeartMedia by 19.2% during the 3rd 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 last quarter. SG Americas Securities LLC grew its position in iHeartMedia by 26.6% during the 4th quarter. SG Americas Securities LLC now owns 45,648 shares of the company’s stock worth $90,000 after purchasing an additional 9,592 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in iHeartMedia by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,515,516 shares of the company’s stock worth $4,655,000 after purchasing an additional 137,896 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other 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.