iHeartMedia (NASDAQ:IHRT) Upgraded to “Neutral” at Bank of America

iHeartMedia (NASDAQ:IHRT) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Tuesday, Marketbeat.com reports. The firm currently has a $3.00 target price on the stock, up from their previous target price of $1.00. Bank of America‘s target price suggests a potential upside of 31.00% from the company’s previous close.

iHeartMedia Stock Performance

IHRT opened at $2.29 on Tuesday. iHeartMedia has a one year low of $0.81 and a one year high of $3.12. The company has a fifty day moving average price of $1.85 and a 200-day moving average price of $1.53.

Institutional Trading of iHeartMedia

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in shares of iHeartMedia by 25.2% during the third quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after purchasing an additional 4,598 shares in the last quarter. Rhumbline Advisers lifted its position in iHeartMedia by 4.1% during the second quarter. Rhumbline Advisers now owns 184,290 shares of the company’s stock valued at $201,000 after purchasing an additional 7,258 shares during the last quarter. PFG Investments LLC grew its stake in iHeartMedia by 53.5% in the 2nd quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock worth $36,000 after buying an additional 11,500 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of iHeartMedia in the 3rd quarter worth $45,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of iHeartMedia by 169.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock valued at $84,000 after buying an additional 25,001 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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.