iHeartMedia, Inc. (NASDAQ:IHRT) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC raised its position in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 51.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,588 shares of the company’s stock after buying an additional 10,061 shares during the quarter. ProShare Advisors LLC’s holdings in iHeartMedia were worth $59,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IHRT. Deutsche Bank AG raised its position in shares of iHeartMedia by 25.9% during the 4th quarter. Deutsche Bank AG now owns 3,830,745 shares of the company’s stock worth $7,585,000 after purchasing an additional 789,170 shares during the period. Schonfeld Strategic Advisors LLC raised its position in shares of iHeartMedia by 20.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,000,000 shares of the company’s stock worth $5,940,000 after purchasing an additional 500,000 shares during the period. Helix Partners Management LP acquired a new stake in shares of iHeartMedia during the 4th quarter worth approximately $911,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of iHeartMedia during the 4th quarter worth approximately $870,000. Finally, JPMorgan Chase & Co. raised its position in shares of iHeartMedia by 21.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock worth $4,949,000 after purchasing an additional 436,656 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

iHeartMedia Price Performance

Shares of IHRT stock opened at $1.37 on Wednesday. iHeartMedia, Inc. has a 12-month low of $0.93 and a 12-month high of $2.84. The firm has a market capitalization of $201.64 million, a price-to-earnings ratio of -0.20 and a beta of 1.72. The business has a 50 day simple moving average of $1.20 and a 200 day simple moving average of $1.79.

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 analysts’ consensus estimates of ($0.47) by ($0.16). The company had revenue of $807.10 million during the quarter, compared to analyst estimates of $790.17 million. On average, equities analysts anticipate that iHeartMedia, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IHRT shares. Guggenheim dropped their price target on 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 price target on iHeartMedia from $1.00 to $1.25 and gave the stock a “neutral” rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen cut iHeartMedia from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.92.

Insider Buying and Selling

In other news, CEO Robert W. Pittman purchased 200,000 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was purchased at an average cost of $1.22 per share, with a total value of $244,000.00. Following the purchase, the chief executive officer now owns 4,441,389 shares in the company, valued at $5,418,494.58. This trade represents a 4.72% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard J. Bressler purchased 100,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $1.79 per share, with a total value of $179,000.00. Following the completion of the purchase, the insider now owns 3,617,764 shares in the company, valued at $6,475,797.56. This represents a 2.84% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 300,725 shares of company stock valued at $424,039 in the last three months. 8.50% of the stock is currently owned by corporate insiders.

About iHeartMedia

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.