188,137 Shares in iHeartMedia, Inc. $IHRT Bought by Nuveen LLC

Nuveen LLC purchased a new position in shares of iHeartMedia, Inc. (NASDAQ:IHRT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 188,137 shares of the company’s stock, valued at approximately $310,000. Nuveen LLC owned 0.13% of iHeartMedia at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of IHRT. Deutsche Bank AG grew its position in iHeartMedia by 25.9% during the fourth quarter. Deutsche Bank AG now owns 3,830,745 shares of the company’s stock valued at $7,585,000 after buying an additional 789,170 shares during the period. Charles Schwab Investment Management Inc. grew its position in iHeartMedia by 22.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,258,206 shares of the company’s stock valued at $3,726,000 after buying an additional 412,769 shares during the period. Bridgeway Capital Management LLC grew its position in iHeartMedia by 17.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,595,198 shares of the company’s stock valued at $3,158,000 after buying an additional 231,481 shares during the period. Northern Trust Corp grew its position in iHeartMedia by 8.2% during the fourth quarter. Northern Trust Corp now owns 991,602 shares of the company’s stock valued at $1,963,000 after buying an additional 75,171 shares during the period. Finally, Granby Capital Management LLC grew its position in iHeartMedia by 80.0% during the fourth quarter. Granby Capital Management LLC now owns 899,926 shares of the company’s stock valued at $1,782,000 after buying an additional 399,926 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Robert W. Pittman purchased 117,371 shares of the stock in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of $2.19 per share, with a total value of $257,042.49. Following the completion of the acquisition, the chief executive officer owned 4,558,760 shares in the company, valued at $9,983,684.40. This represents a 2.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on iHeartMedia from $1.00 to $1.25 and gave the company a “neutral” rating in a research note on Wednesday, May 14th. Zacks Research upgraded iHeartMedia from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Wall Street Zen upgraded iHeartMedia from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.92.

iHeartMedia Stock Down 7.9%

IHRT stock opened at $2.10 on Friday. The firm has a market capitalization of $315.29 million, a PE ratio of -0.86 and a beta of 1.87. iHeartMedia, Inc. has a twelve month low of $0.95 and a twelve month high of $2.84. The stock has a 50-day simple moving average of $2.02 and a two-hundred day simple moving average of $1.66.

iHeartMedia (NASDAQ:IHRT) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.54) earnings per share (EPS) 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 firm had revenue of $933.65 million during the quarter, compared to analysts’ expectations of $912.35 million. On average, equities research analysts anticipate that iHeartMedia, Inc. will post -0.13 EPS for the current fiscal year.

iHeartMedia Company 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.