iHeartMedia, Inc. (NASDAQ:IHRT) Short Interest Down 7.9% in September

iHeartMedia, Inc. (NASDAQ:IHRT - Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 5,730,000 shares, a drop of 7.9% from the August 31st total of 6,220,000 shares. Approximately 4.9% of the shares of the company are short sold. Based on an average daily volume of 685,000 shares, the days-to-cover ratio is presently 8.4 days.

Institutional Trading of iHeartMedia

Several large investors have recently modified their holdings of IHRT. Rhumbline Advisers lifted its position in shares of iHeartMedia by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 184,290 shares of the company's stock worth $201,000 after purchasing an additional 7,258 shares during the period. PFG Investments LLC boosted its position in 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew 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 worth $84,000 after acquiring an additional 25,001 shares during the period. Algert Global LLC raised its position in shares of iHeartMedia by 100.1% in the 2nd quarter. Algert Global LLC now owns 50,506 shares of the company's stock worth $55,000 after acquiring an additional 25,266 shares in the last quarter. Finally, Optas LLC bought a new stake in shares of iHeartMedia during the second quarter valued at approximately $29,000. 93.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Bank of America decreased their price target on shares of iHeartMedia from $1.70 to $1.00 and set an "underperform" rating for the company in a research note on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $3.00.

iHeartMedia Stock Down 1.1 %

NASDAQ:IHRT traded down $0.02 during mid-day trading on Tuesday, hitting $1.83. 962,074 shares of the stock traded hands, compared to its average volume of 966,473. The business's 50-day moving average price is $1.57 and its 200 day moving average price is $1.55. iHeartMedia has a 12-month low of $0.81 and a 12-month high of $3.21. The company has a market cap of $264.98 million, a PE ratio of -0.33, a price-to-earnings-growth ratio of 0.33 and a beta of 1.70.

iHeartMedia (NASDAQ:IHRT - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.08. The business had revenue of $929.09 million for the quarter, compared to the consensus estimate of $918.03 million. Analysts anticipate that iHeartMedia will post 0.17 earnings per share for the current fiscal year.

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.