Key Points
- iHeartMedia CEO Robert Pittman bought 32,468 shares at an average of $3.25 each on March 5 for a total of $105,521, raising his ownership to 6,214,937 shares (a 0.53% increase), as disclosed in an SEC filing.
- The stock was trading around $3.26 with a market cap of about $489.5M and a 52-week range of $0.95 to $5.44, while recent volume was slightly below average.
- iHeartMedia reported Q4 EPS of $0.04, missing estimates by $0.06 and showing negative margins, and analysts have a consensus rating of "Reduce" with an average price target of $4.33.
iHeartMedia, Inc. (NASDAQ:IHRT - Get Free Report) CEO Robert Pittman purchased 32,468 shares of the firm's stock in a transaction on Thursday, March 5th. The stock was acquired at an average cost of $3.25 per share, for a total transaction of $105,521.00. Following the completion of the purchase, the chief executive officer owned 6,214,937 shares in the company, valued at $20,198,545.25. The trade was a 0.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
iHeartMedia Trading Up 0.9%
Shares of NASDAQ IHRT traded up $0.03 on Friday, reaching $3.26. 539,126 shares of the company traded hands, compared to its average volume of 671,603. The stock has a market capitalization of $489.52 million, a PE ratio of -1.06, a P/E/G ratio of 0.92 and a beta of 1.70. iHeartMedia, Inc. has a fifty-two week low of $0.95 and a fifty-two week high of $5.44. The company has a 50 day moving average of $3.59 and a 200 day moving average of $3.40.
iHeartMedia (NASDAQ:IHRT - Get Free Report) last released its earnings results on Monday, March 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.10 billion. iHeartMedia had a negative net margin of 12.24% and a negative return on equity of 1.63%. As a group, research analysts expect that iHeartMedia, Inc. will post -0.13 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts recently weighed in on IHRT shares. The Goldman Sachs Group cut iHeartMedia from a "neutral" rating to a "sell" rating and reduced their target price for the company from $4.00 to $3.50 in a report on Friday, January 9th. Weiss Ratings restated a "sell (d-)" rating on shares of iHeartMedia in a report on Thursday, January 22nd. Finally, Bank of America boosted their target price on iHeartMedia from $3.00 to $5.00 and gave the stock a "neutral" rating in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, iHeartMedia currently has a consensus rating of "Reduce" and an average price target of $4.33.
Check Out Our Latest Stock Report on iHeartMedia
Institutional Trading of iHeartMedia
Several institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of iHeartMedia in the 4th quarter worth about $78,000. Mercer Global Advisors Inc. ADV acquired a new position in iHeartMedia in the fourth quarter worth about $52,000. Sona Asset Management US LLC increased its holdings in iHeartMedia by 2,693.8% in the fourth quarter. Sona Asset Management US LLC now owns 1,623,571 shares of the company's stock valued at $6,754,000 after buying an additional 1,565,457 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in iHeartMedia during the fourth quarter valued at approximately $663,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in iHeartMedia by 7.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 118,957 shares of the company's stock worth $495,000 after buying an additional 7,785 shares during the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.
iHeartMedia Company Profile
(
Get Free Report)
iHeartMedia, Inc (NASDAQ: IHRT) is a leading media and entertainment company specializing in radio broadcasting, digital streaming and live events. The company operates more than 860 full-power AM and FM radio stations across the United States, delivering music, news, sports and talk programming to local markets. Through its flagship digital platform, iHeartRadio, the company provides listeners with free and subscription-based access to thousands of live radio stations, curated music playlists and on-demand podcasts.
Originally founded in 1972 as Clear Channel Communications, the business rebranded to iHeartMedia in 2014 to reflect the growing importance of its digital and event-driven offerings.
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