Key Points
- iHeartMedia CEO Robert Pittman bought 16,349 shares on March 9 at an average price of $2.97, spending $48,556.53 and increasing his holdings to 6,231,286 shares (a 0.26% rise) valued at about $18.5M.
- Shares opened at $3.03 (down 6.5%), the company has a market cap of roughly $455M and a 12‑month range of $0.95–$5.44, with negative profitability metrics including a -12.24% net margin and a negative P/E.
- iHeartMedia missed quarterly EPS estimates (reported $0.04 vs. $0.10 expected), analysts have an average rating of "Reduce" with an average target price of $4.25.
iHeartMedia, Inc. (NASDAQ:IHRT - Get Free Report) CEO Robert Pittman bought 16,349 shares of the stock in a transaction dated Monday, March 9th. The shares were purchased at an average cost of $2.97 per share, for a total transaction of $48,556.53. Following the completion of the purchase, the chief executive officer owned 6,231,286 shares in the company, valued at approximately $18,506,919.42. This represents a 0.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
iHeartMedia Stock Down 6.5%
Shares of iHeartMedia stock opened at $3.03 on Tuesday. iHeartMedia, Inc. has a twelve month low of $0.95 and a twelve month high of $5.44. The business has a 50-day moving average price of $3.54 and a 200 day moving average price of $3.43. The firm has a market cap of $454.98 million, a PE ratio of -0.99, a P/E/G ratio of 31.06 and a beta of 1.70.
iHeartMedia (NASDAQ:IHRT - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. iHeartMedia had a negative return on equity of 1.63% and a negative net margin of 12.24%. On average, sell-side analysts expect that iHeartMedia, Inc. will post -0.13 EPS for the current year.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on IHRT shares. Weiss Ratings reissued a "sell (d-)" rating on shares of iHeartMedia in a research note on Thursday, January 22nd. The Goldman Sachs Group downgraded shares of iHeartMedia from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $4.00 to $3.50 in a report on Friday, January 9th. Finally, Bank of America upped their price target on shares of iHeartMedia from $3.00 to $5.00 and gave the stock a "neutral" rating in a research report on Thursday, November 13th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, iHeartMedia currently has an average rating of "Reduce" and an average target price of $4.25.
Get Our Latest Research Report on iHeartMedia
Institutional Investors Weigh In On iHeartMedia
Several institutional investors and hedge funds have recently added to or reduced their stakes in IHRT. Acadian Asset Management LLC grew its holdings in shares of iHeartMedia by 2.7% during the second quarter. Acadian Asset Management LLC now owns 3,307,000 shares of the company's stock worth $5,815,000 after buying an additional 85,957 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of iHeartMedia by 513.5% in the fourth quarter. GSA Capital Partners LLP now owns 229,839 shares of the company's stock worth $956,000 after buying an additional 192,378 shares in the last quarter. CWM LLC boosted its position in iHeartMedia by 22.2% during the fourth quarter. CWM LLC now owns 41,364 shares of the company's stock worth $172,000 after acquiring an additional 7,511 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in iHeartMedia by 20.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,687 shares of the company's stock worth $102,000 after acquiring an additional 4,118 shares during the last quarter. Finally, Foursixthree Capital LP grew its stake in iHeartMedia by 24.6% during the 3rd quarter. Foursixthree Capital LP now owns 2,357,590 shares of the company's stock valued at $6,766,000 after acquiring an additional 465,820 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.
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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