iHeartMedia, Inc. (NASDAQ:IHRT) CFO Michael B. Mcguinness Acquires 10,000 Shares of Stock

iHeartMedia, Inc. (NASDAQ:IHRT – Get Rating) CFO Michael B. Mcguinness acquired 10,000 shares of the business’s stock in a transaction on Friday, March 10th. The shares were purchased at an average price of $5.00 per share, with a total value of $50,000.00. Following the transaction, the chief financial officer now owns 148,535 shares in the company, valued at approximately $742,675. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

iHeartMedia Stock Performance

Shares of IHRT opened at $4.72 on Wednesday. The company has a 50-day simple moving average of $7.01 and a 200-day simple moving average of $7.69. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.91. The company has a market capitalization of $676.16 million, a PE ratio of -2.65 and a beta of 1.74. iHeartMedia, Inc. has a 52-week low of $4.38 and a 52-week high of $20.48.

Hedge Funds Weigh In On iHeartMedia

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in iHeartMedia by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 10,788,849 shares of the company’s stock valued at $79,082,000 after acquiring an additional 105,422 shares during the last quarter. Silver Point Capital L.P. boosted its stake in shares of iHeartMedia by 13.6% during the 4th quarter. Silver Point Capital L.P. now owns 5,546,124 shares of the company’s stock worth $33,998,000 after purchasing an additional 665,400 shares during the last quarter. FMR LLC boosted its stake in shares of iHeartMedia by 12.2% during the 2nd quarter. FMR LLC now owns 4,011,941 shares of the company’s stock worth $31,654,000 after purchasing an additional 437,538 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of iHeartMedia by 3.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,906,295 shares of the company’s stock worth $73,946,000 after purchasing an additional 118,163 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its stake in shares of iHeartMedia by 24.2% during the 4th quarter. Douglas Lane & Associates LLC now owns 3,729,320 shares of the company’s stock worth $22,861,000 after purchasing an additional 726,157 shares during the last quarter. Hedge funds and other institutional investors own 72.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IHRT. Barrington Research downgraded shares of iHeartMedia from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 1st. JPMorgan Chase & Co. downgraded shares of iHeartMedia from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $10.00 to $5.00 in a research report on Wednesday, March 1st. B. Riley cut their price objective on shares of iHeartMedia from $22.00 to $16.00 in a research report on Wednesday, March 1st. Finally, Wells Fargo & Company cut their price objective on shares of iHeartMedia from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, iHeartMedia presently has a consensus rating of “Hold” and a consensus target price of $9.86.

iHeartMedia Company Profile

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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.