|Bid||13.00 x 800|
|Ask||0.00 x 2200|
|Day's Range||14.55 - 15.09|
|52 Week Range||12.73 - 19.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||0.12|
|Earnings Date||Sep 10, 2019 - Sep 13, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||22.00|
Pivotal, Canopy Growth, iHeartMedia, PG&E and Boeing are the companies to watch.
Shares of Spotify (NYSE:SPOT) have been struggling since its IPO in early 2018. SPOT stock continues to trade sideways and consolidate even with the overall market heading higher. Spotify stock is now below the opening price from when it went public last April. The move away from streaming and towards podcasts is starting to reap benefits, though. Time to be a buyer of SPOT on any weakness.Source: Kaspars Grinvalds / Shutterstock.com Fortune even contended back in May 2018 that Spotify has a broken business model and will never be profitable. Despite reporting its first operating profit in 13 years last February, some analysts have been skeptical that significant returns will ever come.However, after the company's recent implementation of significant operational changes, SPOT stock now represents a bargain at just under $130 a share.InvestorPlace - Stock Market News, Stock Advice & Trading TipsI'm not buying into the arguments of streaming enthusiasts like New York University's Larry Miller. He recently suggested to CNBC that streamers will bankrupt the radio industry within a decade. Most traders know that music streaming is not very profitable, at least on its own, and that streaming services like Spotify would be wise to embrace some of the same attributes of the radio industry, which draw the vast majority of audio listening to local radio stations. Spotify Stock Chart That is exactly why I believe now is an ideal time to buy shares of Spotify. SPOT analyzed the long-term success of radio and other businesses connected to music. It then shifted away from its exclusive music focus and towards a more sustainable business model. Its focus on building a loyal customer base is beginning to pay off. * 7 Discount Retail Stocks to Buy for a Recession SPOT is also looking attractive on a technical basis. Spotify stock reached oversold levels on a nine-day relative strength index basis before strengthening. The moving average convergence/divergence also reached an extreme and has since headed higher. Bollinger Percent B was negative and now has reversed to turn positive. There is major long-term support at $120. SPOT stock is also at a big discount to the 20-day moving average which has led to a pop in the past.Just weeks ago, one year after radio giant iHeartMedia (NASDAQ:IHRT) acquired podcasting pioneer Stuff Media, Spotify unveiled Spotify for Podcasters, an interface that will greatly increase the number of show series on the Spotify app. This follows the move earlier by SPOT to delve further into podcasting. Spotify acquired podcast industry giants like Gimlet Media, Anchor and Parcast to further this initiative. SPOT Stock and Podcast ProfitabilityThis shift to podcasting should soon have positive effects for profitability, and ultimately, SPOT stock. Believe it or not, the radio industry still reaches more Americans (93%) than any other platform. This has less to do with music and more to do with the wide, loyal following brought about by the connection between host and listener. SPOT is looking to capitalize on this connection via podcasts.The Washington Times recently underscored this point by using the example of Casey Kasem and his renowned "American Top 40" syndicated radio program. Despite Kasem having not been live on the air for years, thousands of people still tune into the re-run tapings. According to The Washington Times, the reason is because, "while they can listen to their favorite oldies anywhere …there's only one place they can get Casey."Without those clear connections, streamers haven't managed to create a loyal listener base, and advertisers have thus stuck with radio over streaming. Advertisers can also target a specific base via podcasts -a decided plus. The Bottom LineSpotify has acknowledged that it must embrace what has already proven to be effective. This is why they created Spotify for Podcasters and acquired podcasting giants. The numbers already suggest the move is effective. Its total subscribers and monthly active users grew by 31% and 29%, respectively, as its quarter-over-quarter podcast growth increased by over 50% according to the latest earnings report. Slowly but surely, podcasting is giving Spotify the community feeling that has been prevalent in radio but missing in streaming for the past 13 years. That's a good thing for long-term success. Analysts seem to agree, with an average price target of $170.07 per share. Investors can remain ahead of the curve by adding SPOT stock to their portfolio near current levels.Tim may hold some of the aforementioned securities in one or more of his newsletters. Anyone interested in finding out more about Tim and his option-based strategies can go to https://marketfy.com/item/options-and-volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Big IPO Stocks From 2019 to Watch * 7 Discount Retail Stocks to Buy for a Recession * 7 Stocks to Buy Benefiting From Millennial Money The post 'Spot' This Great Long-Term Opportunity in Spotify Stock appeared first on InvestorPlace.
Event Will Also Feature Performances by Alicia Keys, Backstreet Boys, Cage The Elephant, Camila Cabello, Chance The Rapper, Def Leppard, French Montana, Halsey, Heart, H.E.R., Hoot
Launching on the iHeartPodcast Network, MSNBC anchor Stephanie Ruhle discusses topics of masculinity, #MeToo, political correctness, privilege and more
iHeartMedia, Inc. announced today that Rich Bressler, the company’s President, Chief Operating Officer and Chief Financial Officer, will participate in a question and answer session during the Deutsche Bank Leveraged Finance Conference on Tuesday September 24, 2019 at 11:20 a.m.
iHeartMedia, Inc. (IHRT) announced today that Bob Pittman, the company’s Chairman and Chief Executive Officer, will participate in a question and answer session during the Goldman Sachs Communacopia Conference in New York, NY on Thursday September 19, 2019 at 10:30 a.m. Eastern Time. A live webcast of the session will be available to the general public through a link on the Investors homepage of iHeartMedia’s website (https://investors.iheartmedia.com/). A replay of the audio webcast will be available in the Events & Presentation section of iHeartMedia’s Investors homepage.
iHeartMedia, Inc. announced today that Bob Pittman, Chairman and Chief Executive Officer, will participate in a question and answer session during the Bank of America Merrill Lynch 2019 Media, Communications & Entertainment Conference in Los Angeles, CA on Wednesday September 11, 2019 at 1:35 p.m.
Swinburne said the bullish case for iHeartMedia's stock may be warranted if the company shows it can take full advantage of secular tailwinds in the audio industry through smart speakers, connected cars and other new products. Also, if the U.S. economy outperforms versus expectations the company should be able to grow its core radio business to drive faster top-line growth.
CEO and Director of Iheartmedia Inc (30-Year Financial, Insider Trades) Robert W Pittman (insider trades) bought 20,000 shares of IHRT on 08/20/2019 at an average price of $13.24 a share. Continue reading...
San Antonio-based iHeartMedia reported a slight year-over-year increase in revenue for the second quarter after reorganizing and exiting Chapter 11 bankruptcy in May. As iHeartMedia (Nasdaq: IHRT), a live and audio entertainment company, emerged from bankruptcy in the middle of the quarter. As such, it reported results with a split between the predecessor company period from April 1 through May 1 and the successor company period from May 2 to the end of the quarter on June 30. The company reported combined predecessor and successor company revenue of $913.3 million for the quarter, which was up 2.4% compared to the same period last year due to higher digital revenue.
Pivotal, Canopy Growth, iHeartMedia, PG&E and Boeing are the companies to watch on Thursday, August 15, 2019.
The radio giant, which has 850 broadcast stations across the United States, notches a 2.4% increase in revenue during the second quarter.
iHeartMedia, Inc. today reported financial results for the quarter ended June 30, 2019. IHRT successfully emerged from Chapter 11 on May 1, 2019 with a streamlined capital structure and completed the listing of its shares on the NASDAQ stock exchange on July 18, 2019.
IHeartMedia is the largest operator of radio platforms with more than 850 live broadcast stations. The company has the necessary scale today to reach a broadcast radio listener market of 275 million per month, which Reif Ehrlich said is more than twice the size of its closest competitor. IHeartMedia now boasts a positive operating leverage and capex-light characteristics which should help in growing EBITDA by a 6.9 compounded annual growth rate through 2022.
Group Nine Media, the no. 1 publisher on mobile, and iHeartMedia, the no. 1 commercial podcast publisher globally, today announced an exclusive slate of portfolio-wide, co-produced podcasts to join the iHeartPodcast Network. The new slate will include at least one podcast from each of Group Nine’s four brands: NowThis, The Dodo, Seeker and Thrillist, as well as one from JASH, which is part of the media company’s LA-based Studios team.
The National Hockey League team has ended its radio broadcast deal with Arizona Sports 98.7 FM, which Coyotes management expects will get its brand in front of a larger audience with better play on digital mediums.
Also featured: the prospects for a radio-station giant, a metals manufacturer, a troubled social media giant and more. Picks include Verizon Communications Inc. (NYSE: VZ). Avi Salzman's "How to Play the Trade War's Scary Next Phase" points out that what's even more dangerous than losing a trade war is thinking you can "win." Picks from Barron's for what comes next include Procter & Gamble Co (NYSE: PG).
IHeartMedia is ready for its next chapter. The radio-station giant exited from Chapter 11 looking slimmer and fitter. The stock looks appealing as creditors who received shares in bankruptcy sell their holdings.
The premiere episode of season two will debut today with democratic presidential candidate Sen. Kamala Harris. “The Ron Burgundy Podcast” is an iHeartRadio Original Podcast co-produced with Funny Or Die.
Moody's Investors Service (Moody's) assigned a B1 rating to Clear Channel Outdoor Holdings, Inc.'s (CCO) proposed $1.26 billion senior secured note due 2027 and the B3 Corporate Family Rating (CFR) was affirmed. The net proceeds of the new notes as well as $2 billion of new secured term loan are projected to be used to repay the $2.725 billion senior unsecured notes due 2022 issued by subsidiary, Clear Channel Worldwide Holdings, Inc. (CCW) as well as $375 million of senior notes issued by subsidiary, Clear Channel International B.V. (CCI BV).
Sunday Night Podcasts will air the most popular and highly-anticipated podcasts from the iHeartPodcast Network across multiple genres, including comedy, true crime, business, history, technology, culture and more, on hundreds of iHeartMedia broadcast stations – enabling these podcasts to reach millions of new listeners. Sunday Night Podcasts will debut with season two, episode one of “The Ron Burgundy Podcast,” an iHeartRadio Original Podcast co-produced by iHeartMedia and Funny Or Die, this Sunday, August 11 across 270 of iHeartMedia’s broadcast stations, spanning a variety of music and spoken word radio formats including CHR, Hot AC, Country Rock, Urban, News/Talk and more.
iHeartMedia, the No. 1 commercial podcast publisher globally according to Podtrac, today announced it will translate and distribute a slate of its hit podcasts across the globe by first quarter 2020, marking a significant step in internationally available, regionally targeted content for the podcast industry. In the first wave, the iHeartPodcast Network will translate six hit podcasts series into the most spoken languages in the world, further extending the podcast medium across new international audiences and serving up incredible content from this exploding medium to listeners around the world, in their native language, at scale. The first slate of translated shows include “Stuff You Should Know,” “Stuff You Missed in History Class,” “Stuff Mom Never Told You,” “Stuff To Blow Your Mind,” “BrainStuff” and “TechStuff” with many more to come.
iHeartMedia, the No. 1 commercial podcast publisher globally according to Podtrac, has teamed up with South Florida based charity sock company, Are You Kidding Socks and kid entrepreneurs Brandon Martinez (13 years old) and Sebastian Martinez (11 years old) to launch a new kid-hosted podcast “Are You Kidding Podcast” aimed to inspire kids to help other kids by finding creative ways to give back and benefit Stand Up To Cancer. The eight-episode series will launch Monday, August 5 and run through September, which is Pediatric Cancer Awareness Month.