Strs Ohio lifted its holdings in shares of iHeartMedia, Inc. (NASDAQ:IHRT – Free Report) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,700 shares of the company’s stock after purchasing an additional 9,300 shares during the quarter. Strs Ohio owned 0.08% of iHeartMedia worth $435,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Great West Life Assurance Co. Can grew its holdings in shares of iHeartMedia by 19.7% during the first quarter. Great West Life Assurance Co. Can now owns 10,175 shares of the company’s stock worth $204,000 after purchasing an additional 1,676 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of iHeartMedia by 2.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 68,599 shares of the company’s stock worth $421,000 after purchasing an additional 1,741 shares in the last quarter. Boothbay Fund Management LLC grew its holdings in shares of iHeartMedia by 26.5% during the fourth quarter. Boothbay Fund Management LLC now owns 15,840 shares of the company’s stock worth $97,000 after purchasing an additional 3,321 shares in the last quarter. Jane Street Group LLC boosted its stake in iHeartMedia by 43.4% in the fourth quarter. Jane Street Group LLC now owns 11,152 shares of the company’s stock worth $68,000 after buying an additional 3,373 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in iHeartMedia by 22.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,268 shares of the company’s stock worth $152,000 after buying an additional 3,531 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.
iHeartMedia Stock Performance
NASDAQ:IHRT opened at $2.22 on Tuesday. The firm has a market cap of $320.83 million, a PE ratio of -0.25 and a beta of 1.91. iHeartMedia, Inc. has a fifty-two week low of $2.02 and a fifty-two week high of $9.03. The company has a debt-to-equity ratio of 11.43, a quick ratio of 1.83 and a current ratio of 1.83. The business has a 50 day moving average price of $3.10 and a 200-day moving average price of $3.40.
Analysts Set New Price Targets
Several analysts have issued reports on IHRT shares. Bank of America cut their target price on iHeartMedia from $3.50 to $2.90 and set an “underperform” rating for the company in a research note on Wednesday, October 4th. Barrington Research reaffirmed a “market perform” rating on shares of iHeartMedia in a research note on Wednesday, August 9th. Finally, B. Riley cut their target price on iHeartMedia from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.23.
Read Our Latest Stock Report on IHRT
Insider Activity at iHeartMedia
In other iHeartMedia news, CEO Robert W. Pittman bought 58,480 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $3.44 per share, for a total transaction of $201,171.20. Following the completion of the acquisition, the chief executive officer now directly owns 3,066,359 shares in the company, valued at $10,548,274.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is owned by corporate insiders.
iHeartMedia Company Profile
iHeartMedia, Inc operates as a media and entertainment company worldwide. The company operates through three segments: Multiplatform Group, Digital Audio Group, and Audio & Media 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 syndicated radio programs and services to radio station affiliates.
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