For iHeart Shares, A 42-Week Low Is Seen


Until late September, all seemed particularly strong forĀ iHeartMedia‘s stock price. A year-long increase was underway, with shares moving from just over $14 per share in late February to nearly $27.50 just four months later.

By October, however, worries about the Delta, and Omicron, variants of the COVID-19 virus accelerated, creating new concerns about ad dollar weakness at radio. Ups and downs for IHRT were seen, and the shares still managed to start 2022 at $21.57.

Since then, it has been a bumpy ride on the Nasdaq GlobalSelect market for iHeart.

The latest dip for the company’s shares was seen on Friday, as IHRT fell 2.7% from Thursday to land at $18.67.

That’s the second-lowest closing price of the last six months, with a December 1 finish of $18.37 the only other time IHRT finished at this level.

While IHRT is still above where it was a year ago, it still marks a frustration for the company led by CEO Bob Pittman and COO/CFO Rich Bressler (pictured, top left). The current 1-year target price for IHRT is $32.78 per share.

The company has yet to see its shares climb above the $30 mark.