In the last trading session, 1.4 million shares of the iHeartMedia Inc (NASDAQ:IHRT) were traded, and its beta was 1.71. Most recently the company’s share price was $2.37, and it changed around $0.15 or 6.76% from the last close, which brings the market valuation of the company to $298.12M. IHRT currently trades at a discount to its 52-week high of $3.12, offering almost -31.65% off that amount. The share price’s 52-week low was $0.81, which indicates that the current value has risen by an impressive 65.82% since then. We note from iHeartMedia Inc’s average daily trading volume that its 10-day average is 1.81 million shares, with the 3-month average coming to 769.56K.
iHeartMedia Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.00. If we narrow it down even further, the data shows that 2 out of 8 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 3 recommended IHRT as a Hold, whereas 1 deemed it a Buy, and 1 rated it as Underweight.
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iHeartMedia Inc (NASDAQ:IHRT) trade information
Instantly IHRT has showed a green trend with a performance of 6.76% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 2.49 on recent trading dayincreased the stock’s daily price by 4.82%. The company’s shares are currently down -11.24% year-to-date, but still down -0.84% over the last five days. On the other hand, iHeartMedia Inc (NASDAQ:IHRT) is 35.43% up in the 30-day period. We can see from the shorts that 5.44 million shares have been sold at a short interest cover period of 10.13 day(s).
The consensus price target as assigned by Wall Street analysts is $5, which translates to bulls needing to increase their stock price by 52.6% from its current value. Analyst projections state that IHRT is forecast to be at a low of $5 and a high of $5.
iHeartMedia Inc (IHRT) estimates and forecasts
iHeartMedia Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 121.50 percent over the past six months and at a 11.77% annual growth rate that is well below the industry average of 18.00%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -25.60%. iHeartMedia Inc earnings are expected to increase by 11.88% in 2024, but the outlook is positive 7.00% per year for the next five years.
IHRT Dividends
iHeartMedia Inc’s next quarterly earnings report is expected to be released in December.
iHeartMedia Inc (NASDAQ:IHRT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.38% of iHeartMedia Inc shares, and 87.78% of them are in the hands of institutional investors. The stock currently has a share float of 91.81%. iHeartMedia Inc stock is held by 169.0 institutions, with ALLIANZ ASSET MANAGEMENT GMBH being the largest institutional investor. By 2024-06-30, it held 15.0185% of the shares, which is about 22.5 million shares worth $24.52 million.
DOUGLAS LANE & ASSOCIATES, LLC, with 5.0684% or 7.59 million shares worth $8.28 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
