iHeartMedia, Inc. (NASDAQ:IHRT) Major Shareholder Media & Entertainment I. Global Acquires 131,259 Shares

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.

Hedge funds have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC lifted its holdings in shares of iHeartMedia by 63.7% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 1,341 shares of the company’s stock worth $28,000 after purchasing an additional 522 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of iHeartMedia in the 3rd quarter worth $53,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of iHeartMedia in the 4th quarter worth $50,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of iHeartMedia by 11,084.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 2,908 shares of the company’s stock worth $73,000 after purchasing an additional 2,882 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of iHeartMedia in the 3rd quarter worth $96,000. 80.20% of the stock is owned by institutional investors.

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.

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