Two Sigma Advisers LP Has $544,000 Holdings in iHeartMedia, Inc. (NASDAQ:IHRT)

Two Sigma Advisers LP lifted its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 43.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 274,600 shares of the company’s stock after acquiring an additional 82,700 shares during the period. Two Sigma Advisers LP owned approximately 0.19% of iHeartMedia worth $544,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Deutsche Bank AG grew its stake in shares of iHeartMedia by 25.9% in the fourth quarter. Deutsche Bank AG now owns 3,830,745 shares of the company’s stock valued at $7,585,000 after acquiring an additional 789,170 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of iHeartMedia by 20.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,000,000 shares of the company’s stock valued at $5,940,000 after acquiring an additional 500,000 shares in the last quarter. Geode Capital Management LLC grew its stake in iHeartMedia by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,566,735 shares of the company’s stock worth $5,083,000 after buying an additional 51,219 shares in the last quarter. JPMorgan Chase & Co. grew its stake in iHeartMedia by 21.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock worth $4,949,000 after buying an additional 436,656 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in iHeartMedia by 17.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,595,198 shares of the company’s stock worth $3,158,000 after buying an additional 231,481 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IHRT. Wall Street Zen downgraded shares of iHeartMedia from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Guggenheim reduced their price objective on shares of iHeartMedia from $5.00 to $4.50 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, The Goldman Sachs Group increased their price objective on shares of iHeartMedia from $1.00 to $1.25 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.92.

Insider Activity

In other iHeartMedia news, CEO Robert W. Pittman acquired 200,000 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average price of $1.22 per share, for a total transaction of $244,000.00. Following the acquisition, the chief executive officer now directly owns 4,441,389 shares in the company, valued at $5,418,494.58. This represents a 4.72% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard J. Bressler acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $1.79 per share, with a total value of $179,000.00. Following the acquisition, the insider now owns 3,617,764 shares in the company, valued at $6,475,797.56. The trade was a 2.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 300,725 shares of company stock worth $424,039. Corporate insiders own 8.50% of the company’s stock.

iHeartMedia Trading Up 1.5%

IHRT opened at $1.37 on Wednesday. The company’s 50 day moving average is $1.20 and its 200-day moving average is $1.79. iHeartMedia, Inc. has a 1-year low of $0.93 and a 1-year high of $2.84. The company has a market cap of $201.64 million, a P/E ratio of -0.20 and a beta of 1.72.

iHeartMedia (NASDAQ:IHRT) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.16). The firm had revenue of $807.10 million for the quarter, compared to the consensus estimate of $790.17 million. On average, equities analysts forecast that iHeartMedia, Inc. will post -0.13 EPS for the current year.

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.