iHeartMedia, Inc. (NASDAQ:IHRT – Get Rating) major shareholder Media & Entertainment I. Global bought 131,259 shares of the firm’s stock in a transaction on Wednesday, May 4th. The shares were purchased at an average cost of $16.42 per share, with a total value of $2,155,272.78. Following the transaction, the insider now directly owns 15,479,661 shares in the company, valued at approximately $254,176,033.62. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of IHRT stock opened at $16.02 on Friday. iHeartMedia, Inc. has a 52 week low of $15.38 and a 52 week high of $28.24. The firm has a 50 day moving average of $18.80 and a 200-day moving average of $19.93.
iHeartMedia (NASDAQ:IHRT – Get Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.54 by $0.22. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. On average, sell-side analysts expect that iHeartMedia, Inc. will post 1.59 earnings per share for the current fiscal year.
Separately, Zacks Investment Research downgraded shares of iHeartMedia from a “buy” rating to a “hold” rating in a research report on Friday, January 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $30.33.
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.
- Get a free copy of the StockNews.com research report on iHeartMedia (IHRT)
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