iHeartMedia, Inc. (NASDAQ:IHRT) Director James A. Rasulo Buys 40,223 Shares

iHeartMedia, Inc. (NASDAQ:IHRTGet Rating) Director James A. Rasulo acquired 40,223 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were bought at an average cost of $11.95 per share, with a total value of $480,664.85. Following the completion of the acquisition, the director now directly owns 87,591 shares in the company, valued at approximately $1,046,712.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

IHRT stock opened at $12.00 on Friday. The firm’s 50-day moving average price is $18.14 and its two-hundred day moving average price is $19.64. iHeartMedia, Inc. has a 12-month low of $11.38 and a 12-month high of $28.24. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 52.18, a PEG ratio of 1.35 and a beta of 1.73.

iHeartMedia (NASDAQ:IHRTGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.22. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. On average, research analysts expect that iHeartMedia, Inc. will post 1.34 EPS for the current fiscal year.

IHRT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of iHeartMedia from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $28.00 to $19.00 in a report on Monday. Zacks Investment Research downgraded shares of iHeartMedia from a “hold” rating to a “sell” rating in a report on Friday, May 6th. Finally, B. Riley dropped their price objective on shares of iHeartMedia from $40.00 to $36.00 in a report on Friday, May 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, iHeartMedia presently has an average rating of “Hold” and a consensus target price of $28.17.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can increased its position in shares of iHeartMedia by 19.7% during the first quarter. Great West Life Assurance Co. Can now owns 10,175 shares of the company’s stock valued at $204,000 after buying an additional 1,676 shares during the period. MetLife Investment Management LLC increased its position in shares of iHeartMedia by 53.2% during the first quarter. MetLife Investment Management LLC now owns 61,216 shares of the company’s stock valued at $1,159,000 after buying an additional 21,269 shares during the period. CQS US LLC purchased a new stake in iHeartMedia in the first quarter worth about $1,711,000. AlphaCrest Capital Management LLC grew its holdings in iHeartMedia by 8.5% in the first quarter. AlphaCrest Capital Management LLC now owns 51,489 shares of the company’s stock worth $975,000 after purchasing an additional 4,039 shares during the period. Finally, Pinebridge Investments L.P. purchased a new stake in iHeartMedia in the first quarter worth about $5,519,000. Institutional investors own 80.20% of the company’s stock.

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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