In the last trading session, 1.03 million iHeartMedia Inc (NASDAQ:IHRT) shares changed hands as the company’s beta touched 1.71. With the company’s per share price at $1.85 changed hands at $0.14 or 8.19% during last session, the market valuation stood at $271.60M. IHRT’s last price was a discount, traded about -86.49% off its 52-week high of $3.45. The share price had its 52-week low at $0.81, which suggests the last value was 56.22% up since then. When we look at iHeartMedia Inc’s average trading volume, we note the 10-day average is 0.92 million shares, with the 3-month average coming to 695.40K.
Analysts gave the iHeartMedia Inc (IHRT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 3.20. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended IHRT as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight.
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iHeartMedia Inc (NASDAQ:IHRT) trade information
Instantly IHRT was in green as seen at the end of in last trading. With action 19.35%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -30.71%, with the 5-day performance at 19.35% in the green. However, in the 30-day time frame, iHeartMedia Inc (NASDAQ:IHRT) is 14.20% up. Looking at the short shares, we see there were 5.73 million shares sold at short interest cover period of 11.9 days.
The consensus price target for the stock as assigned by Wall Street analysts is 3, meaning bulls need an upside of 38.33% from its current market value. According to analyst projections, IHRT’s forecast low is 3 with 3 as the target high. To hit the forecast high, the stock’s price needs a -62.16% plunge from its current level, while the stock would need to soar -62.16% for it to hit the projected low.
iHeartMedia Inc (IHRT) estimates and forecasts
Data shows that the iHeartMedia Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -12.74% over the past 6 months, a 17.46% in annual growth rate that is considerably higher than the industry average of 7.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -25.60%. The 2024 estimates are for iHeartMedia Inc earnings to increase by 17.19%, but the outlook for the next 5-year period is at 7.00% per year.
IHRT Dividends
iHeartMedia Inc is expected to release its next quarterly earnings report in November.
iHeartMedia Inc (NASDAQ:IHRT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.43% of iHeartMedia Inc shares while 87.25% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 91.29%. There are 87.25% institutions holding the iHeartMedia Inc stock share, with ALLIANZ ASSET MANAGEMENT GMBH the top institutional holder. As of 2024-06-30, the company held 15.0185% of the shares, roughly 22.5 million IHRT shares worth $24.52 million.
DOUGLAS LANE & ASSOCIATES, LLC holds the second largest percentage of outstanding shares, with 5.0684% or 7.59 million shares worth $8.28 million as of 2024-06-30.
