iHeartMedia, Inc. (NASDAQ: IHRTGet 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: IHRTGet 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.

Further reading

Insider buying and selling by quarter for iHeartMedia (NASDAQ:IHRT)



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