Barrington Research upgraded shares of iHeartMedia (NASDAQ:IHRT - Free Report) to a hold rating in a research report report published on Tuesday,Zacks.com reports. Barrington Research also issued estimates for iHeartMedia's FY2027 earnings at $0.09 EPS.
Separately, Bank of America raised iHeartMedia from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $1.00 to $3.00 in a report on Tuesday.
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iHeartMedia Price Performance
NASDAQ:IHRT traded down $0.10 on Tuesday, reaching $2.29. The stock had a trading volume of 794,126 shares, compared to its average volume of 958,860. iHeartMedia has a 1-year low of $0.81 and a 1-year high of $3.12. The stock has a fifty day moving average price of $1.85 and a 200-day moving average price of $1.53.
Institutional Trading of iHeartMedia
Hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC bought a new position in iHeartMedia in the 1st quarter valued at $181,000. Mitsubishi UFJ Trust & Banking Corp increased its position in iHeartMedia by 169.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company's stock worth $84,000 after purchasing an additional 25,001 shares during the period. Vanguard Group Inc. increased its position in iHeartMedia by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company's stock worth $13,754,000 after purchasing an additional 203,917 shares during the period. SG Americas Securities LLC bought a new stake in iHeartMedia during the 2nd quarter worth about $69,000. Finally, AEGON USA Investment Management LLC lifted its position in iHeartMedia by 128.3% during the 2nd quarter. AEGON USA Investment Management LLC now owns 208,713 shares of the company's stock valued at $227,000 after purchasing an additional 117,273 shares during the period. Institutional investors and hedge funds own 93.89% of the company's stock.
iHeartMedia Company Profile
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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.
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