iHeartMedia, Inc. (NASDAQ:IHRT) Holdings Raised by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,430,714 shares of the company’s stock after purchasing an additional 36,231 shares during the period. Vanguard Group Inc. owned about 0.06% of iHeartMedia worth $26,641,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IHRT. Tower Research Capital LLC TRC lifted its holdings in shares of iHeartMedia by 203.3% during the third quarter. Tower Research Capital LLC TRC now owns 9,510 shares of the company’s stock valued at $30,000 after purchasing an additional 6,374 shares during the last quarter. Bridgecreek Investment Management LLC purchased a new stake in shares of iHeartMedia during the third quarter valued at $32,000. Creative Planning purchased a new stake in shares of iHeartMedia during the third quarter valued at $33,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of iHeartMedia during the third quarter valued at $42,000. Finally, Sei Investments Co. purchased a new stake in shares of iHeartMedia during the first quarter valued at $46,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

iHeartMedia Trading Down 3.5 %

NASDAQ:IHRT opened at $2.18 on Friday. The firm has a market capitalization of $315.55 million, a price-to-earnings ratio of -0.29 and a beta of 1.88. iHeartMedia, Inc. has a 1-year low of $1.77 and a 1-year high of $4.74. The business’s fifty day moving average price is $2.27 and its 200 day moving average price is $2.45.

iHeartMedia (NASDAQ:IHRT) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.04. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. iHeartMedia had a negative return on equity of 1,197.12% and a negative net margin of 29.40%. During the same period in the previous year, the firm earned $0.54 earnings per share. Equities analysts forecast that iHeartMedia, Inc. will post 0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Guggenheim dropped their price target on iHeartMedia from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.07.

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.