Barrington Research Upgrades iHeartMedia (NASDAQ:IHRT) to “Hold”

iHeartMedia (NASDAQ:IHRT) was upgraded by equities research analysts at Barrington Research to a “hold” rating in a research note issued on Tuesday,Zacks.com reports. Barrington Research also issued estimates for iHeartMedia’s FY2027 earnings at $0.09 EPS.

Separately, Bank of America upgraded shares of iHeartMedia from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $1.00 to $3.00 in a report on Tuesday.

iHeartMedia Price Performance

NASDAQ IHRT opened at $2.39 on Tuesday. The company has a market cap of $350.88 million, a price-to-earnings ratio of -0.35, a PEG ratio of 0.56 and a beta of 1.69. The stock’s fifty day moving average price is $1.83 and its 200 day moving average price is $1.53. iHeartMedia has a 1 year low of $0.81 and a 1 year high of $3.12.

Institutional Trading of iHeartMedia

A number of hedge funds have recently added to or reduced their stakes in IHRT. Aristeia Capital L.L.C. purchased a new position in iHeartMedia during the second quarter worth approximately $2,461,000. AQR Capital Management LLC lifted its position in shares of iHeartMedia by 132.4% during the 2nd quarter. AQR Capital Management LLC now owns 3,909,729 shares of the company’s stock valued at $4,262,000 after buying an additional 2,227,676 shares in the last quarter. Acadian Asset Management LLC grew its stake in iHeartMedia by 287.5% in the 2nd quarter. Acadian Asset Management LLC now owns 784,374 shares of the company’s stock valued at $854,000 after acquiring an additional 581,980 shares during the period. Vanguard Group Inc. increased its holdings in iHeartMedia by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company’s stock worth $13,754,000 after acquiring an additional 203,917 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of iHeartMedia by 644.6% during the second quarter. Renaissance Technologies LLC now owns 166,800 shares of the company’s stock worth $182,000 after purchasing an additional 144,400 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

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.