iHeartMedia (NASDAQ:IHRT) Given “Sell (D-)” Rating at Weiss Ratings

iHeartMedia (NASDAQ:IHRT)‘s stock had its “sell (d-)” rating reissued by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research firms have also commented on IHRT. Wall Street Zen raised shares of iHeartMedia from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Zacks Research raised shares of iHeartMedia from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, iHeartMedia presently has an average rating of “Hold” and an average price target of $2.92.

iHeartMedia Price Performance

NASDAQ:IHRT opened at $3.04 on Wednesday. iHeartMedia has a one year low of $0.95 and a one year high of $3.33. The company’s 50-day simple moving average is $2.40 and its 200 day simple moving average is $1.81. The firm has a market capitalization of $456.43 million, a P/E ratio of -1.25 and a beta of 1.91.

iHeartMedia (NASDAQ:IHRT) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.26). The company had revenue of $933.65 million for the quarter, compared to analyst estimates of $912.35 million. On average, equities research analysts expect that iHeartMedia will post -0.13 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Robert W. Pittman bought 117,371 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $2.19 per share, for a total transaction of $257,042.49. Following the completion of the purchase, the chief executive officer owned 4,558,760 shares in the company, valued at approximately $9,983,684.40. This represents a 2.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in iHeartMedia by 42.8% during the second quarter. BNP Paribas Financial Markets now owns 18,655 shares of the company’s stock valued at $33,000 after purchasing an additional 5,591 shares during the period. The Manufacturers Life Insurance Company lifted its position in iHeartMedia by 15.0% during the second quarter. The Manufacturers Life Insurance Company now owns 43,613 shares of the company’s stock valued at $77,000 after purchasing an additional 5,684 shares during the period. Intech Investment Management LLC lifted its position in iHeartMedia by 11.4% during the second quarter. Intech Investment Management LLC now owns 76,686 shares of the company’s stock valued at $135,000 after purchasing an additional 7,857 shares during the period. AEGON USA Investment Management LLC lifted its position in iHeartMedia by 9.9% during the second quarter. AEGON USA Investment Management LLC now owns 117,010 shares of the company’s stock valued at $206,000 after purchasing an additional 10,563 shares during the period. Finally, Rhumbline Advisers lifted its position in iHeartMedia by 7.1% during the second quarter. Rhumbline Advisers now owns 168,006 shares of the company’s stock valued at $296,000 after purchasing an additional 11,101 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.