iHeartMedia, Inc. (NASDAQ: IHRT – Get a rating) major Media & Entertainment shareholder I. Global purchased 17,342 shares of the company in a transaction on Wednesday, April 27. The shares were acquired at an average cost of $15.58 per share, for a total transaction of $270,188.36. Following the completion of the purchase, the insider now directly owns 14,349,342 shares of the company, valued at approximately $223,562,748.36. The purchase was disclosed in a legal filing with the SEC, accessible via this hyperlink. Major shareholders who own at least 10% of a company’s stock are required to disclose their sales and purchases to the SEC.
Shares of NASDAQ IHRT opened at $15.64 on Thursday. iHeartMedia, Inc. has a 52 week minimum of $15.38 and a 52 week maximum of $28.24. The company’s fifty-day moving average is $19.25 and its 200-day moving average is $20.26. The company has a market capitalization of $2.22 billion, a price-earnings ratio of -14.35, a PEG ratio of 1.66 and a beta of 1.73.
iHeartMedia (NASDAQ: IHRT – Get a rating) last reported results on Wednesday, February 23. The company reported EPS of $0.76 for the quarter, beating the consensus estimate of $0.54 by $0.22. The company posted revenue of $1.06 billion in the quarter, versus $1.04 billion expected by analysts. As a group, stock analysts predict that iHeartMedia, Inc. will post EPS of 1.61 for the current year.
Separately, Zacks Investment Research downgraded iHeartMedia’s stock from a “buy” to a “hold” rating in a Friday, Jan. 14 research note. Two analysts rated the stock with a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $30.33.
Several hedge funds and other institutional investors have recently changed their stock holdings. Allianz Asset Management GmbH increased its stake in iHeartMedia shares by 4.0% in the fourth quarter. Allianz Asset Management GmbH now owns 22,682,770 shares of the company worth $477,245,000 after purchasing an additional 878,492 shares during the period. BlackRock Inc. increased its stake in iHeartMedia by 3.1% in the fourth quarter. BlackRock Inc. now owns 7,474,421 shares of the company valued at $157,262,000 after acquiring an additional 221,711 shares last quarter. Goldman Sachs Group Inc. increased its stake in iHeartMedia by 52.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,788,132 shares of the company valued at $79,703,000 after acquiring an additional 1,299,514 shares last quarter. DE Shaw & Co. Inc. increased its stake in iHeartMedia by 7.4% in the fourth quarter. DE Shaw & Co. Inc. now owns 2,433,137 shares of the company valued at $51,193,000 after acquiring an additional 167,264 shares last quarter. Finally, Douglas Lane & Associates LLC increased its stake in iHeartMedia by 24.4% in the first quarter. Douglas Lane & Associates LLC now owns 2,322,129 shares of the company valued at $43,958,000 after acquiring an additional 455,001 shares last quarter. 72.86% of the shares are currently held by institutional investors.
About iHeartMedia (Get a rating)
iHeartMedia, Inc operates as a worldwide media and entertainment company. It operates through three segments: Multiplatform Group, Digital Audio Group and Audio and Multimedia Services Group. The Multiplatform Group segment offers broadcast radio stations, sponsorship and live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes or represents approximately 120 syndicated radio programs and services to approximately 6,400 affiliated radio stations.
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