In a filing, iHeartMedia Inc revealed its Chairman and CEO PITTMAN ROBERT W acquired Company’s shares for reported $0.21 million on Nov 14 ’23. In the deal valued at $2.06 per share,100,000 shares were bought. As a result of this transaction, PITTMAN ROBERT W now holds 3,166,359 shares worth roughly $6.9 million.
Then, PITTMAN ROBERT W bought 58,480 shares, generating $201,066 in total proceeds. Upon buying the shares at $3.44, the Chairman and CEO now owns 3,066,359 shares.
Before that, PITTMAN ROBERT W bought 88,028 shares. iHeartMedia Inc shares valued at $253,441 were divested by the Chairman and CEO at a price of $2.88 per share. As a result of the transaction, PITTMAN ROBERT W now holds 1,971,323 shares, worth roughly $4.3 million.
BofA Securities downgraded its iHeartMedia Inc [IHRT] rating to an Underperform from a a Neutral in a research note published on March 28, 2023; the price target was decreased to $4 from $6.50. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in early March from “a Neutral” to “an Underweight”. Barrington Research also remained covering IHRT and has decreased its forecast on March 01, 2023 with a “Mkt perform” recommendation from previously “an Outperform” rating. Goldman revised its rating on August 10, 2022. It rated IHRT as “a Neutral” which previously was an “a Buy”.
Price Performance Review of IHRT
On Friday, iHeartMedia Inc [NASDAQ:IHRT] saw its stock fall -3.54% to $2.18. Over the last five days, the stock has gained 6.34%. iHeartMedia Inc shares have fallen nearly -18.35% since the year began. Nevertheless, the stocks have fallen -42.18% over the past one year. While a 52-week high of $4.74 was reached on 02/29/24, a 52-week low of $1.77 was recorded on 03/19/24. SMA at 50 days reached $2.29, while 200 days put it at $2.86. A total of 0.5 million shares were traded, compared to the trading of 0.34 million shares in the previous session.
Levels Of Support And Resistance For IHRT Stock
The 24-hour chart illustrates a support level at 2.15, which if violated will result in even more drops to 2.11. On the upside, there is a resistance level at 2.24. A further resistance level may holdings at 2.29. The Relative Strength Index (RSI) on the 14-day chart is 50.73, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 34.74%. Stochastics %K at 70.88% indicates the stock is a holding.
