iHeartMedia (NASDAQ:IHRT) Upgraded at Barrington Research

Barrington Research upgraded shares of iHeartMedia (NASDAQ:IHRT) to a hold rating in a research report released 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 increased their price objective for the stock from $1.00 to $3.00 in a research note on Tuesday.

iHeartMedia Price Performance

iHeartMedia stock traded down $0.01 during mid-day trading on Tuesday, hitting $2.30. The company’s stock had a trading volume of 57,073 shares, compared to its average volume of 954,145. The firm’s 50 day moving average is $1.89 and its 200 day moving average is $1.55. The company has a market cap of $337.66 million, a PE ratio of -0.34, a price-to-earnings-growth ratio of 0.45 and a beta of 1.69. iHeartMedia has a 52-week low of $0.81 and a 52-week high of $3.12.

Institutional Investors Weigh In On iHeartMedia

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its stake in shares of iHeartMedia by 25.2% during the 3rd quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after purchasing an additional 4,598 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of iHeartMedia by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 184,290 shares of the company’s stock valued at $201,000 after acquiring an additional 7,258 shares during the last quarter. PFG Investments LLC increased its holdings in shares of iHeartMedia by 53.5% during the 2nd quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock valued at $36,000 after acquiring an additional 11,500 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of iHeartMedia during the 3rd quarter valued at about $45,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of iHeartMedia by 169.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock valued at $84,000 after acquiring an additional 25,001 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.