iHeartMedia Inc (NASDAQ: IHRT) stock jumped 1.98% on Monday to $2.57 against a previous-day closing price of $2.52. With 0.66 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.87 million shares. During the session, the Broadcasting company that operates in wider Communication Services sector, reached to the highest price of $2.6500 whereas the lowest price it dropped to was $2.5500. The 52-week range on IHRT shows that it touched its highest point at $9.01 and its lowest point at $1.77 during that stretch. It currently has a 1-year price target of $4.00. Beta for the stock currently stands at 1.86.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IHRT was up-trending over the past week, with a rise of 41.21%, but this was up by 4.90% over a month. Three-month performance dropped to -26.78% while six-month performance fell -2.28%. The stock lost -66.75% in the past year, while it has lost -58.08% so far this year. A look at the trailing 12-month EPS for IHRT yields -6.93 with Next year EPS estimates of 0.21. For the next quarter, that number is 0.07. This implies an EPS growth rate of -318.38% for this year and 102.79% for next year. EPS is expected to grow by 7.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 17.53%.
Float and Shares Shorts:
At present, 121.77 million IHRT shares are outstanding with a float of 114.26 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.59 million, which was 3.87% higher than short shares on Sep 28, 2023. In addition to Mr. Robert W. Pittman as the firm’s Chairman & CEO, Mr. Richard J. Bressler serves as its President, COO, CFO & Director.
Institutional Ownership:
Through their ownership of 95.06% of IHRT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 67.58% of IHRT, in contrast to 21.75% held by mutual funds. Shares owned by individuals account for 20.88%. As the largest shareholder in IHRT with 18.32% of the stake, Pacific Investment Management Co holds 22,564,505 shares worth 22,564,505. A second-largest stockholder of IHRT, Global Media & Entertainment Inve, holds 18,140,000 shares, controlling over 14.73% of the firm’s shares. Douglas Lane & Associates LLC is the third largest shareholder in IHRT, holding 8,273,158 shares or 6.72% stake. With a 2.66% stake in IHRT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,272,276 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.93% of IHRT stock, is the second-largest Mutual Fund holder. It holds 2,382,678 shares valued at 5.6 million. Schwab Fundamental US Small Compa holds 1.77% of the stake in IHRT, owning 2,175,142 shares worth 5.11 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IHRT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IHRT analysts setting a high price target of $7.00 and a low target of $2.00, the average target price over the next 12 months is $4.00. Based on these targets, IHRT could surge 172.37% to reach the target high and fall by -22.18% to reach the target low. Reaching the average price target will result in a growth of 55.64% from current levels.
Summary of Insider Activity:
Insiders traded IHRT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 3,195,866 while 16,995 shares were sold.
