US Bancorp DE Purchases 11,339 Shares of iHeartMedia, Inc. $IHRT

US Bancorp DE boosted its holdings in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 224.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,402 shares of the company’s stock after buying an additional 11,339 shares during the period. US Bancorp DE’s holdings in iHeartMedia were worth $27,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of IHRT. Geode Capital Management LLC boosted its position in shares of iHeartMedia by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,566,735 shares of the company’s stock valued at $5,083,000 after acquiring an additional 51,219 shares in the last quarter. Invesco Ltd. raised its position in iHeartMedia by 6.1% in the fourth quarter. Invesco Ltd. now owns 685,069 shares of the company’s stock worth $1,356,000 after purchasing an additional 39,425 shares in the last quarter. Renaissance Technologies LLC lifted its stake in iHeartMedia by 47.3% during the fourth quarter. Renaissance Technologies LLC now owns 377,600 shares of the company’s stock worth $748,000 after purchasing an additional 121,300 shares during the period. Mariner LLC boosted its holdings in iHeartMedia by 4.5% during the fourth quarter. Mariner LLC now owns 122,374 shares of the company’s stock valued at $242,000 after purchasing an additional 5,269 shares in the last quarter. Finally, XTX Topco Ltd grew its stake in shares of iHeartMedia by 36.9% in the 4th quarter. XTX Topco Ltd now owns 124,504 shares of the company’s stock valued at $247,000 after purchasing an additional 33,561 shares during the period. Institutional investors own 93.89% of the company’s stock.

iHeartMedia Stock Up 1.8%

Shares of NASDAQ:IHRT opened at $2.24 on Thursday. iHeartMedia, Inc. has a 12 month low of $0.95 and a 12 month high of $2.84. The firm has a market cap of $330.67 million, a P/E ratio of -0.92 and a beta of 1.86. The company’s 50-day moving average price is $1.89 and its two-hundred day moving average price is $1.66.

iHeartMedia (NASDAQ:IHRT) last announced its earnings results on Monday, August 11th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.26). iHeartMedia had a negative return on equity of 2.84% and a negative net margin of 9.68%.The company had revenue of $933.65 million during the quarter, compared to the consensus estimate of $912.35 million. As a group, equities analysts predict that iHeartMedia, Inc. will post -0.13 earnings per share for the current fiscal year.

Insider Transactions at iHeartMedia

In other news, CEO Robert W. Pittman acquired 117,371 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were purchased at an average cost of $2.19 per share, for a total transaction of $257,042.49. Following the transaction, the chief executive officer owned 4,558,760 shares of the company’s stock, valued at approximately $9,983,684.40. This represents a 2.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised iHeartMedia from a “sell” rating to a “hold” rating in a report on Sunday. The Goldman Sachs Group upped their price target on iHeartMedia from $1.00 to $1.25 and gave the company a “neutral” rating in a research report on Wednesday, May 14th. Finally, Zacks Research raised iHeartMedia from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, iHeartMedia presently has a consensus rating of “Hold” and an average target price of $2.92.

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.