Fintel reports that on October 4, 2023, B of A Securities maintained coverage of iHeartMedia Inc - (NASDAQ:IHRT) with a Underperform recommendation.
Analyst Price Forecast Suggests 111.63% Upside
As of August 31, 2023, the average one-year price target for iHeartMedia Inc - is 6.22. The forecasts range from a low of 3.03 to a high of $12.60. The average price target represents an increase of 111.63% from its latest reported closing price of 2.94.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for iHeartMedia Inc - is 3,918MM, an increase of 1.87%. The projected annual non-GAAP EPS is 0.44.
What is the Fund Sentiment?
There are 414 funds or institutions reporting positions in iHeartMedia Inc -. This is a decrease of 32 owner(s) or 7.17% in the last quarter. Average portfolio weight of all funds dedicated to IHRT is 0.10%, an increase of 13.70%. Total shares owned by institutions decreased in the last three months by 0.97% to 111,898K shares. 
The put/call ratio of IHRT is 0.11, indicating a bullish outlook.
What are Other Shareholders Doing?
Allianz Asset Management holds 22,657K shares representing 15.14% ownership of the company. No change in the last quarter.
PONAX - PIMCO Income Fund holds 9,028K shares representing 6.03% ownership of the company. No change in the last quarter.
Douglas Lane & Associates holds 5,687K shares representing 3.80% ownership of the company. In it's prior filing, the firm reported owning 4,031K shares, representing an increase of 29.11%. The firm increased its portfolio allocation in IHRT by 27.84% over the last quarter.
Oak Hill Advisors holds 3,881K shares representing 2.59% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,280K shares representing 2.19% ownership of the company. No change in the last quarter.
iHeartMedia Background Information
(This description is provided by the company.)
iHeartMedia, Inc. is the number one audio company in America based on consumer reach. The Company's leadership position in audio extends across multiple platforms, including through more than 850 live broadcast stations in over 160 markets nationwide; through its iHeartRadio service, which is available across more than 250 platforms and 2,000 devices including smart speakers, smartphones, TVs and gaming consoles; through its influencers; social; live events; podcasting; and other digital products and newsletters. The company uses its unparalleled national reach to target both nationally and locally on behalf of its advertising partners, and uses its proprietary SmartAudio suite of data targeting and analytics to provide unique advertising products across all its platforms.
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This story originally appeared on Fintel.
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