Why has iHeartMedia Inc. (IHRT) dropped -6.05% in last trading?

iHeartMedia Inc. (NASDAQ: IHRT) is -52.19% lower on its value in year-to-date trading and has touched a low of $4.31 and a high of $19.69 in the current 52-week trading range. The IHRT stock was last observed hovering at around $8.60 in the last trading session, with the day’s loss setting it -0.52% off its average median price target of $10.00 for the next 12 months. It is also 32.67% off the consensus price target high of $12.00 offered by 8 analysts, but current levels are -1.0% lower than the price target low of $8.00 for the same period.

Currently trading at $8.08, the stock is -0.50% and -7.06% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.53 million and changing -6.05% at the moment leaves the stock -31.62% off its SMA200. IHRT registered -41.45% loss for a year compared to 6-month loss of -55.46%. The firm has a 50-day simple moving average (SMA 50) of $8.34 and a 200-day simple moving average (SMA200) of $10.10.

The stock witnessed a 13.80% gain in the last 1 month and extending the period to 3 months gives it a 15.43%, and is -4.04% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.08% over the week and 7.94% over the month.

iHeartMedia Inc. (IHRT) has around 11400 employees, a market worth around $543.62M and $3.67B in sales. Current P/E ratio is 0.15 and Fwd P/E is 22.26. Distance from 52-week low is 87.47% and -58.96% from its 52-week high. The company has generated returns on investments over the last 12 months (113.10%).

iHeartMedia Inc. (IHRT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for iHeartMedia Inc. (IHRT) is a “Overweight”. 8 analysts offering their recommendations for the stock have an average rating of 2.40, where 3 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

iHeartMedia Inc. is expected to release its quarterly report on 11/05/2020 and quarterly earnings per share for the current quarter are estimated at -$0.79 with sales reaching $562.5M over the same period.The EPS is expected to shrink by -201.20% this year, but quarterly earnings will post -19.40% year-over-year. Quarterly sales are estimated to shrink -27.30% in year-over-year returns.

iHeartMedia Inc. (IHRT) Top Institutional Holders

172 institutions hold shares in iHeartMedia Inc. (IHRT), with 3.93M shares held by insiders accounting for 2.69% while institutional investors hold 171.10% of the company’s shares. The shares outstanding are 145.61M, and float is at 58.50M with Short Float at 14.91%. Institutions hold 166.49% of the Float.

The top institutional shareholder in the company is Allianz Asset Management GmbH with over 44.11 million shares valued at $322.43 million. The investor’s holdings represent 77.54% of the IHRT Shares outstanding. As of Mar 30, 2020, the second largest holder is Franklin Resources, Inc with 7.47 million shares valued at $54.58 million to account for 13.13% of the shares outstanding. The other top investors are Invesco Senior Secured Management Inc. which holds 3.47 million shares representing 6.09% and valued at over $25.34 million, while Symphony Asset Management LLC holds 5.03% of the shares totaling 2.86 million with a market value of $20.94 million.

iHeartMedia Inc. (IHRT) Insider Activity

A total of 0 insider transactions have happened at iHeartMedia Inc. (IHRT) in the last six months, with sales accounting for 0 and purchases happening 0 times.