During the last session, iHeartMedia Inc (NASDAQ:IHRT)’s traded shares were 1.4 million, with the beta value of the company hitting 1.85. At the end of the trading day, the stock’s price was $2.07, reflecting an intraday loss of -2.36% or -$0.05. The 52-week high for the IHRT share is $4.79, that puts it down -131.4 from that peak though still a striking 14.49% gain since the share price plummeted to a 52-week low of $1.77. The company’s market capitalization is $299.45M, and the average intraday trading volume over the past 10 days was 1.05 million shares, and the average trade volume was 994.93K shares over the past three months.
iHeartMedia Inc (NASDAQ:IHRT) trade information
iHeartMedia Inc (IHRT) registered a -2.36% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.36% in intraday trading to $2.07, hitting a weekly high. The stock’s 5-day price performance is -10.00%, and it has moved by -17.86% in 30 days. Based on these gigs, the overall price performance for the year is -55.86%. The short interest in iHeartMedia Inc (NASDAQ:IHRT) is 5.92 million shares and it means that shorts have 6.64 day(s) to cover.
iHeartMedia Inc (IHRT) estimates and forecasts
Statistics show that iHeartMedia Inc has outperformed its competitors in share price, compared to the industry in which it operates. iHeartMedia Inc (IHRT) shares have gone down -39.30% during the last six months, with a year-to-date growth rate more than the industry average at 100.68% against 24.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 62.70% this quarter and then jump 99.80% in the quarter after that. In the rating firms’ projections, revenue will increase 5.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $805.21 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $943.18 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $796.84 million and $906.14 million respectively. In this case, analysts expect current quarter sales to grow by 1.10% and then jump by 4.10% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -25.60%. While earnings are projected to return 99.26% in 2024, the next five years will return 7.00% per annum.
IHRT Dividends
iHeartMedia Inc is due to release its next quarterly earnings between April 30 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
iHeartMedia Inc (NASDAQ:IHRT)’s Major holders
iHeartMedia Inc insiders own 5.11% of total outstanding shares while institutional holders control 91.00%, with the float percentage being 95.90%. Allianz Asset Management GmbH is the largest shareholder of the company, while 222 institutions own stock in it. As of Jun 29, 2023, the company held over 22.66 million shares (or 39.83% of all shares), a total value of $82.47 million in shares.
The next largest institutional holding, with 18.14 million shares, is of Global Media & Entertainment Investments Ltd’s that is approximately 31.89% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $66.03 million.
Also, the Mutual Funds coming in first place with the largest holdings of iHeartMedia Inc (IHRT) shares are PIMCO Income Fd and Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2023 indicates that PIMCO Income Fd owns about 9.03 million shares. This amounts to just over 15.87 percent of the company’s overall shares, with a $32.86 million market value. The same data shows that the other fund manager holds slightly less at 3.28 million, or about 5.77% of the stock, which is worth about $11.94 million.
