iHeartMedia (NASDAQ:IHRT) PT Lowered to $1.00

iHeartMedia (NASDAQ:IHRT) had its price objective cut by The Goldman Sachs Group from $2.00 to $1.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Guggenheim cut their price target on shares of iHeartMedia from $6.00 to $5.00 and set a buy rating on the stock in a report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, iHeartMedia presently has an average rating of Hold and a consensus price target of $3.38.

iHeartMedia Trading Down 0.2 %

NASDAQ:IHRT traded down $0.00 during mid-day trading on Monday, hitting $1.29. 214,735 shares of the company’s stock were exchanged, compared to its average volume of 926,426. iHeartMedia has a one year low of $1.13 and a one year high of $4.74. The business has a fifty day moving average price of $2.00 and a 200 day moving average price of $2.31.

iHeartMedia (NASDAQ:IHRT) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.43. iHeartMedia had a negative net margin of 24.04% and a negative return on equity of 1,197.12%. The firm had revenue of $799.04 million for the quarter, compared to analysts’ expectations of $806.62 million. During the same quarter in the prior year, the company posted ($1.50) earnings per share. As a group, analysts forecast that iHeartMedia will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IHRT. Mackenzie Financial Corp bought a new position in iHeartMedia in the third quarter worth approximately $134,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in iHeartMedia by 13.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,360 shares of the company’s stock valued at $260,000 after acquiring an additional 9,609 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of iHeartMedia by 39.4% in the 3rd quarter. Principal Financial Group Inc. now owns 15,207 shares of the company’s stock worth $48,000 after buying an additional 4,301 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of iHeartMedia in the 3rd quarter worth $111,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of iHeartMedia by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,565,409 shares of the company’s stock worth $11,267,000 after buying an additional 322,803 shares in the last quarter. 93.89% of the stock is currently 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.