Voya Investment Management LLC Has $221,000 Holdings in iHeartMedia, Inc. $IHRT

Voya Investment Management LLC lifted its stake in iHeartMedia, Inc. (NASDAQ:IHRT) by 322.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,768 shares of the company’s stock after buying an additional 102,126 shares during the period. Voya Investment Management LLC owned about 0.09% of iHeartMedia worth $221,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IHRT. Acadian Asset Management LLC increased its holdings in iHeartMedia by 64.3% during the 1st quarter. Acadian Asset Management LLC now owns 3,221,043 shares of the company’s stock valued at $5,309,000 after purchasing an additional 1,260,142 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in iHeartMedia by 22.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,872,316 shares of the company’s stock valued at $4,739,000 after purchasing an additional 532,414 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in iHeartMedia by 22.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,258,206 shares of the company’s stock valued at $3,726,000 after purchasing an additional 412,769 shares in the last quarter. AQR Capital Management LLC increased its holdings in iHeartMedia by 99.8% during the 1st quarter. AQR Capital Management LLC now owns 2,214,301 shares of the company’s stock valued at $3,654,000 after purchasing an additional 1,105,976 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in iHeartMedia by 139.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,049,664 shares of the company’s stock valued at $1,732,000 after purchasing an additional 610,449 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

iHeartMedia Stock Performance

NASDAQ IHRT opened at $2.78 on Tuesday. The stock has a fifty day moving average of $2.26 and a 200-day moving average of $1.75. The stock has a market capitalization of $417.39 million, a P/E ratio of -1.14 and a beta of 1.87. iHeartMedia, Inc. has a 52 week low of $0.95 and a 52 week high of $3.33.

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

Insider Activity at iHeartMedia

In related news, CEO Robert W. Pittman acquired 117,371 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average cost of $2.19 per share, with a total value of $257,042.49. Following the completion of the purchase, the chief executive officer directly owned 4,558,760 shares in the company, valued at approximately $9,983,684.40. This trade 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 the SEC website. 6.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IHRT. Zacks Research raised iHeartMedia from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Wall Street Zen raised iHeartMedia from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $2.92.

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.