60,038 Shares in iHeartMedia, Inc. (NASDAQ:IHRT) Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 60,038 shares of the company’s stock, valued at approximately $119,000.

A number of other hedge funds have also modified their holdings of IHRT. Schonfeld Strategic Advisors LLC boosted its position in iHeartMedia by 20.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,000,000 shares of the company’s stock worth $5,940,000 after purchasing an additional 500,000 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 worth $5,083,000 after purchasing an additional 51,219 shares during the period. JPMorgan Chase & Co. grew its stake in shares of iHeartMedia by 21.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock valued at $4,949,000 after buying an additional 436,656 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in iHeartMedia by 17.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,595,198 shares of the company’s stock valued at $3,158,000 after purchasing an additional 231,481 shares during the period. Finally, Northern Trust Corp boosted its holdings in iHeartMedia by 8.2% in the fourth quarter. Northern Trust Corp now owns 991,602 shares of the company’s stock valued at $1,963,000 after purchasing an additional 75,171 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

iHeartMedia Stock Down 1.6%

Shares of NASDAQ IHRT opened at $1.24 on Monday. iHeartMedia, Inc. has a 12 month low of $0.81 and a 12 month high of $2.84. The company has a market cap of $182.50 million, a price-to-earnings ratio of -0.18 and a beta of 1.72. The business has a fifty day simple moving average of $1.29 and a 200-day simple moving average of $1.86.

iHeartMedia (NASDAQ:IHRT) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.63) EPS 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 analyst estimates of $790.17 million. As a group, sell-side analysts expect that iHeartMedia, Inc. will post -0.13 EPS for the current fiscal year.

Insider Transactions at iHeartMedia

In other news, insider Richard J. Bressler purchased 100,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was bought 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 approximately $6,475,797.56. The trade was a 2.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert W. Pittman purchased 200,000 shares of iHeartMedia stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $1.60 per share, for a total transaction of $320,000.00. Following the completion of the acquisition, the chief executive officer now owns 4,241,389 shares of the company’s stock, valued at approximately $6,786,222.40. The trade was a 4.95% increase in their position. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IHRT. Guggenheim reduced their target price on iHeartMedia from $5.00 to $4.50 and set a “buy” rating for the company in a report on Monday, March 10th. The Goldman Sachs Group upped 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.

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.