IHRT

iHeartMedia Inc - Ordinary Shares - Class A New

TMT


Presented:11/25/2020
Price:$12.05
Cap:$0.85B
Current Price:$1.93
Cap:$0.28B

Presented

Date11/25/2020
Price$12.05
Market Cap$0.85B
Ent Value$7.41B
P/E RatioN/A
Book Value$14.70
Div Yield0%
Shares O/S70.42M
Ave Daily Vol663,489
Short Int15.30%

Current

Price$1.93
Market Cap$0.28B
iHeartMedia, Inc. engages in the provision of media and entertainment services. It operates through the following segments: Audio; Audio and Media Services; and Corporate and Other Reconciling Items. The Audio segment comprises of media and entertainment services via broadcast and digital delivery and also includes events and national syndication businesses. The Audio and Media Services segment consists of the other audio and media services, including the media representation business (Katz Media) and the provider of scheduling and broadcast software (RCS).The company was founded by L. Lowry Mays and B. J. McCombs in 1972 and is headquartered in San Antonio, TX.

Publicly traded companies mentioned herein: Booking Holdings Inc (BKNG), Expedia Group Inc (EXPE), iHeartMedia Inc (IHRT), Live Nation Entertainment Inc (LYV)

Highlights

The presenter is long shares of iHeartMedia Inc (IHRT), a terrestrial radio company that operates in 160 markets nationwide. The stock entered 2020 at ~$18 per share and troughed at ~$5 per share in March before recovering to the current ~$12 share price. He notes that most of the reopening trades (e.g., BKNG, EXPE, LYV) are trading at or above pre-COVID-19 levels and therefore considers IHRT the most interesting reopening trade that still has upside. As the economy continues to recover from its trough earlier in the year, the presenter expects IHRT’s numbers to normalize and its trading multiple to expand, allowing the share price to double from the current ~$12. 

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Idea Discussion

Commentor 1 - 2 weeks ago

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