iHeartMedia Inc (IHRT) Debt Trading 3% Higher

An issue of iHeartMedia Inc (NASDAQ:IHRT) debt rose 3% as a percentage of its face value during trading on Monday. The debt issue has a 9% coupon and will mature on March 1, 2021. The debt is now trading at $72.00 and was trading at $73.00 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

Shares of iHeartMedia Inc (NASDAQ IHRT) remained flat at $1.45 during mid-day trading on Wednesday. 82 shares of the stock traded hands. The company’s market capitalization is $130.97 million. The stock’s 50 day moving average price is $1.53 and its 200 day moving average price is $1.95. iHeartMedia Inc has a one year low of $0.84 and a one year high of $4.01.

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About iHeartMedia

iHeartMedia, Inc is a diversified media and entertainment company. The Company specializes in broadcast radio, digital, out-of-home, mobile, live events and on-demand information services for national audiences and local communities while providing a range of opportunities for advertisers. It operates through three segments: iHeartMedia (iHM), Americas outdoor advertising (Americas outdoor) and International outdoor advertising (International outdoor).

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