iHeartMedia (NASDAQ:IHRT) Stock Rating Upgraded by Barrington Research

Barrington Research upgraded shares of iHeartMedia (NASDAQ:IHRT) to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports. Barrington Research also issued estimates for iHeartMedia’s Q4 2024 earnings at $0.42 EPS, FY2024 earnings at $0.13 EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.22 EPS, FY2025 earnings at ($0.24) EPS, FY2026 earnings at $0.59 EPS and FY2027 earnings at $0.09 EPS.

Separately, Bank of America raised iHeartMedia from an “underperform” rating to a “neutral” rating and raised their target price for the company from $1.00 to $3.00 in a report on Tuesday.

iHeartMedia Trading Down 0.4 %

IHRT traded down $0.01 during midday trading on Tuesday, reaching $2.30. The company’s stock had a trading volume of 57,073 shares, compared to its average volume of 954,145. The stock has a market cap of $337.66 million, a P/E ratio of -0.34, a PEG ratio of 0.45 and a beta of 1.69. The company has a fifty day simple moving average of $1.89 and a 200 day simple moving average of $1.55. iHeartMedia has a twelve month low of $0.81 and a twelve month high of $3.12.

Institutional Trading of iHeartMedia

Hedge funds have recently modified their holdings of the company. Aristeia Capital L.L.C. bought a new stake in shares of iHeartMedia in the 2nd quarter worth approximately $2,461,000. AQR Capital Management LLC lifted its position in shares of iHeartMedia by 132.4% in the 2nd quarter. AQR Capital Management LLC now owns 3,909,729 shares of the company’s stock worth $4,262,000 after acquiring an additional 2,227,676 shares during the period. Acadian Asset Management LLC lifted its position in shares of iHeartMedia by 287.5% in the 2nd quarter. Acadian Asset Management LLC now owns 784,374 shares of the company’s stock worth $854,000 after acquiring an additional 581,980 shares during the period. Vanguard Group Inc. lifted its position in shares of iHeartMedia by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company’s stock worth $13,754,000 after acquiring an additional 203,917 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of iHeartMedia by 169.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock worth $84,000 after acquiring an additional 25,001 shares during the period. Institutional investors own 93.89% of the company’s stock.

iHeartMedia Company Profile

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.