Price T Rowe Associates Inc. MD Reduces Position in iHeartMedia, Inc. (NASDAQ:IHRT)

Price T Rowe Associates Inc. MD cut its position in iHeartMedia, Inc. (NASDAQ:IHRT) by 27.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,745 shares of the company’s stock after selling 34,430 shares during the period. Price T Rowe Associates Inc. MD owned 0.06% of iHeartMedia worth $180,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of iHeartMedia by 21.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock valued at $4,949,000 after purchasing an additional 436,656 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of iHeartMedia in the 4th quarter valued at approximately $578,000. Helix Partners Management LP purchased a new position in shares of iHeartMedia in the 4th quarter valued at $911,000. SG Americas Securities LLC grew its position in shares of iHeartMedia by 26.6% in the 4th quarter. SG Americas Securities LLC now owns 45,648 shares of the company’s stock valued at $90,000 after buying an additional 9,592 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of iHeartMedia by 47.3% in the 4th quarter. Renaissance Technologies LLC now owns 377,600 shares of the company’s stock valued at $748,000 after buying an additional 121,300 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

iHeartMedia Stock Performance

Shares of iHeartMedia stock opened at $1.24 on Friday. iHeartMedia, Inc. has a 1 year low of $0.81 and a 1 year high of $2.84. The company has a market capitalization of $182.50 million, a P/E ratio of -0.18 and a beta of 1.72. The company’s fifty day moving average is $1.29 and its two-hundred day moving average is $1.86.

iHeartMedia (NASDAQ:IHRT) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.16). The business had revenue of $807.10 million for the quarter, compared to the consensus estimate of $790.17 million. As a group, equities analysts expect that iHeartMedia, Inc. will post -0.13 earnings per share for the current year.

Insider Transactions at iHeartMedia

In other news, CEO Robert W. Pittman bought 200,000 shares of iHeartMedia stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $1.60 per share, for a total transaction of $320,000.00. Following the purchase, the chief executive officer now owns 4,241,389 shares of the company’s stock, valued at approximately $6,786,222.40. The trade was a 4.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Richard J. Bressler bought 100,000 shares of iHeartMedia stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $1.79 per share, with a total value of $179,000.00. Following the purchase, the insider now directly owns 3,617,764 shares in the company, valued at approximately $6,475,797.56. This trade represents a 2.84% increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

IHRT has been the topic of a number of recent analyst reports. Guggenheim dropped their target price on shares of iHeartMedia from $5.00 to $4.50 and set a “buy” rating on the stock in a research report on Monday, March 10th. The Goldman Sachs Group increased their target price on shares of iHeartMedia from $1.00 to $1.25 and gave the company a “neutral” rating in a research report on Wednesday.

iHeartMedia Profile

iHeartMedia, Inc operates as an audio media company in the United States and internationally. 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 events, and live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents syndicated radio programs and services to radio station affiliates.