iHeartMedia (NASDAQ:IHRT) Stock Price Up 12.5% – What’s Next?

iHeartMedia, Inc. (NASDAQ:IHRT)’s share price rose 12.5% during trading on Tuesday . The stock traded as high as $4.96 and last traded at $4.96. Approximately 972,180 shares were traded during trading, an increase of 3% from the average daily volume of 943,685 shares. The stock had previously closed at $4.41.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iHeartMedia in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $4.25.

iHeartMedia Price Performance

The firm has a market cap of $739.64 million, a PE ratio of -2.67 and a beta of 2.33. The business’s fifty day moving average is $4.04 and its 200-day moving average is $3.89.

iHeartMedia (NASDAQ:IHRT) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.12). iHeartMedia had a negative return on equity of 1.63% and a negative net margin of 7.28%.The company had revenue of $884.20 million during the quarter, compared to the consensus estimate of $871.50 million. Analysts forecast that iHeartMedia, Inc. will post -0.06 EPS for the current year.

Insider Transactions at iHeartMedia

In other iHeartMedia news, CEO Robert W. Pittman acquired 16,349 shares of the company’s stock in a transaction on Monday, March 9th. The shares were acquired at an average cost of $2.97 per share, with a total value of $48,556.53. Following the completion of the acquisition, the chief executive officer directly owned 6,231,286 shares in the company, valued at $18,506,919.42. This trade represents a 0.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Global Media & Entertainment Investments Ltd purchased a new stake in shares of iHeartMedia during the third quarter worth $52,061,800,000. Foursixthree Capital LP boosted its holdings in shares of iHeartMedia by 24.6% in the third quarter. Foursixthree Capital LP now owns 2,357,590 shares of the company’s stock worth $6,766,000 after acquiring an additional 465,820 shares during the period. GSA Capital Partners LLP grew its position in shares of iHeartMedia by 513.5% in the fourth quarter. GSA Capital Partners LLP now owns 229,839 shares of the company’s stock valued at $956,000 after purchasing an additional 192,378 shares in the last quarter. CWM LLC raised its stake in shares of iHeartMedia by 22.2% during the 4th quarter. CWM LLC now owns 41,364 shares of the company’s stock valued at $172,000 after purchasing an additional 7,511 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in iHeartMedia by 20.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,687 shares of the company’s stock worth $102,000 after purchasing an additional 4,118 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

iHeartMedia Company Profile

iHeartMedia, Inc (NASDAQ: IHRT) is a leading media and entertainment company specializing in radio broadcasting, digital streaming and live events. The company operates more than 860 full-power AM and FM radio stations across the United States, delivering music, news, sports and talk programming to local markets. Through its flagship digital platform, iHeartRadio, the company provides listeners with free and subscription-based access to thousands of live radio stations, curated music playlists and on-demand podcasts.

Originally founded in 1972 as Clear Channel Communications, the business rebranded to iHeartMedia in 2014 to reflect the growing importance of its digital and event-driven offerings.