iHeartMedia Inc. [NASDAQ: IHRT] loss -17.03% or -4.51 points to close at $21.98 with a heavy trading volume of 3952473 shares. The company report on August 6, 2021 that iHeartMedia, Inc. Reports Results for 2021 Second Quarter.
iHeartMedia, Inc. (Nasdaq: IHRT) reported financial results for the quarter ended June 30, 2021.
It opened the trading session at $27.62, the shares rose to $27.62 and dropped to $21.87, the range by which the price of stock traded the whole day. The daily chart for IHRT points out that the company has recorded 57.11% gains over the past six months. However, it is still -196.63% lower than its most recent low trading price.
If we look at the average trading volume of 1.11M shares, IHRT reached to a volume of 3952473 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about iHeartMedia Inc. [IHRT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IHRT shares is $28.43 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IHRT stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for iHeartMedia Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 16, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price from $17 to $29. The new note on the price target was released on May 10, 2021, representing the official price target for iHeartMedia Inc. stock. Previously, the target price had yet another raise to $28, while B. Riley Securities analysts kept a Buy rating on IHRT stock.
The Average True Range (ATR) for iHeartMedia Inc. is set at 1.27, with the Price to Sales ratio for IHRT stock in the period of the last 12 months amounting to 1.30. The Price to Book ratio for the last quarter was 3.08, with the Price to Cash per share for the same quarter was set at 3.43. Price to Free Cash Flow for IHRT in the course of the last twelve months was 31.85 with Quick ratio for the last quarter at 1.50.
Trading performance analysis for IHRT stock
iHeartMedia Inc. [IHRT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.97. With this latest performance, IHRT shares dropped by -14.51% in over the last four-week period, additionally plugging by 57.11% over the last 6 months – not to mention a rise of 172.03% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IHRT stock in for the last two-week period is set at 31.01, with the RSI for the last a single of trading hit 25.26, and the three-weeks RSI is set at 36.09 for iHeartMedia Inc. [IHRT]. The present Moving Average for the last 50 days of trading for this stock 25.37, while it was recorded at 25.12 for the last single week of trading, and 17.62 for the last 200 days.
iHeartMedia Inc. [IHRT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and iHeartMedia Inc. [IHRT] shares currently have an operating margin of +0.42 and a Gross Margin at +46.88. iHeartMedia Inc.’s Net Margin is presently recorded at -64.94.
Return on Total Capital for IHRT is now 0.14, given the latest momentum, and Return on Invested Capital for the company is -22.01. Return on Equity for this stock declined to -96.25, with Return on Assets sitting at -17.87. When it comes to the capital structure of this company, iHeartMedia Inc. [IHRT] has a Total Debt to Total Equity ratio set at 663.61. Additionally, IHRT Total Debt to Total Capital is recorded at 86.90, with Total Debt to Total Assets ending up at 70.19. Long-Term Debt to Equity for the company is recorded at 652.94, with the Long-Term Debt to Total Capital now at 85.51.
Reflecting on the efficiency of the workforce at the company, iHeartMedia Inc. [IHRT] managed to generate an average of -$187,716 per employee. Receivables Turnover for the company is 3.38 with a Total Asset Turnover recorded at a value of 0.28.iHeartMedia Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.
An analysis of insider ownership at iHeartMedia Inc. [IHRT]
There are presently around $2,111 million, or 88.90% of IHRT stock, in the hands of institutional investors. The top three institutional holders of IHRT stocks are: ALLIANZ ASSET MANAGEMENT GMBH with ownership of 21,910,244, which is approximately -50.267% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 7,757,099 shares of the stock with an approximate value of $170.5 million in IHRT stocks shares; and VANGUARD GROUP INC, currently with $119.55 million in IHRT stock with ownership of nearly 72.905% of the company’s market capitalization.
Positions in iHeartMedia Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 113 institutional holders increased their position in iHeartMedia Inc. [NASDAQ:IHRT] by around 28,612,360 shares. Additionally, 60 investors decreased positions by around 36,310,331 shares, while 13 investors held positions by with 31,109,888 shares. The mentioned changes placed institutional holdings at 96,032,579 shares, according to the latest SEC report filing. IHRT stock had 47 new institutional investments in for a total of 5,328,241 shares, while 15 institutional investors sold positions of 1,841,219 shares during the same period.