iHeartMedia, Inc. (NASDAQ:IHRT) Short Interest Up 5.0% in January

iHeartMedia, Inc. (NASDAQ:IHRT) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 6,450,000 shares, an increase of 5.0% from the January 15th total of 6,140,000 shares. Based on an average trading volume of 968,200 shares, the days-to-cover ratio is currently 6.7 days. Approximately 5.5% of the shares of the company are sold short.

iHeartMedia Stock Down 0.9 %

Shares of IHRT traded down $0.02 during mid-day trading on Monday, hitting $2.22. 722,603 shares of the company’s stock were exchanged, compared to its average volume of 584,549. iHeartMedia has a 52 week low of $0.81 and a 52 week high of $3.04. The stock’s 50-day simple moving average is $2.17 and its 200-day simple moving average is $1.97. The firm has a market cap of $326.50 million, a price-to-earnings ratio of -0.33 and a beta of 1.73.

Institutional Trading of iHeartMedia

Several large investors have recently made changes to their positions in IHRT. BNP Paribas Financial Markets acquired a new stake in shares of iHeartMedia during the 4th quarter worth approximately $33,000. FMR LLC boosted its position in shares of iHeartMedia by 25.2% during the 3rd quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after acquiring an additional 4,598 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of iHeartMedia during the 3rd quarter worth approximately $45,000. State of Wyoming acquired a new stake in shares of iHeartMedia during the 4th quarter worth approximately $49,000. Finally, Algert Global LLC acquired a new stake in shares of iHeartMedia during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America raised shares of iHeartMedia from an “underperform” rating to a “neutral” rating and increased their price target for the company from $1.00 to $3.00 in a report on Tuesday, November 12th. Barrington Research raised shares of iHeartMedia to a “hold” rating in a report on Tuesday, November 12th. Finally, Guggenheim raised their target price on shares of iHeartMedia from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th.

About iHeartMedia

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.