iHeartMedia, Inc. (NASDAQ:IHRT) Major Shareholder Media & Entertainment I. Global Purchases 619,937 Shares

iHeartMedia, Inc. (NASDAQ:IHRT – Get Rating) major shareholder Media & Entertainment I. Global purchased 619,937 shares of the firm’s stock in a transaction dated Monday, April 25th. The stock was purchased at an average cost of $17.74 per share, with a total value of $10,997,682.38. Following the acquisition, the insider now directly owns 14,027,075 shares in the company, valued at $248,840,310.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of NASDAQ IHRT opened at $15.64 on Thursday. The firm has a market cap of $2.22 billion, a PE ratio of -14.35, a PEG ratio of 1.66 and a beta of 1.73. iHeartMedia, Inc. has a 1-year low of $15.38 and a 1-year high of $28.24. The company has a fifty day moving average price of $19.25 and a 200 day moving average price of $20.26.

iHeartMedia (NASDAQ:IHRT – Get Rating) last announced its earnings results on Wednesday, February 23rd. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.22. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Analysts expect that iHeartMedia, Inc. will post 1.61 earnings per share for the current fiscal year.

Separately, Zacks Investment Research lowered shares of iHeartMedia from a “buy” rating to a “hold” rating in a report on Friday, January 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, iHeartMedia currently has a consensus rating of “Buy” and an average price target of $30.33.

Large investors have recently modified their holdings of the business. Swiss National Bank lifted its position in iHeartMedia by 1.1% during the 3rd quarter. Swiss National Bank now owns 247,100 shares of the company’s stock worth $6,182,000 after buying an additional 2,600 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in iHeartMedia during the 4th quarter worth about $243,000. SG Americas Securities LLC lifted its position in iHeartMedia by 1,088.2% during the 3rd quarter. SG Americas Securities LLC now owns 57,915 shares of the company’s stock worth $1,449,000 after buying an additional 53,041 shares in the last quarter. Granby Capital Management LLC lifted its position in iHeartMedia by 44.9% during the 3rd quarter. Granby Capital Management LLC now owns 193,632 shares of the company’s stock worth $4,845,000 after buying an additional 60,000 shares in the last quarter. Finally, Hudson Bay Capital Management LP lifted its position in iHeartMedia by 12.8% during the 3rd quarter. Hudson Bay Capital Management LP now owns 593,130 shares of the company’s stock worth $14,840,000 after buying an additional 67,439 shares in the last quarter. 72.86% of the stock is currently owned by hedge funds and other institutional investors.

About iHeartMedia (Get Rating)

iHeartMedia, Inc operates as a media and entertainment company worldwide. It 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 approximately 120 syndicated radio programs and services to approximately 6,400 radio station affiliates.

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