Ethic Inc. Purchases Shares of 32,502 iHeartMedia, Inc. (NASDAQ:IHRT)

Ethic Inc. acquired a new stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) during the 4th quarter, Holdings Channel reports. The firm acquired 32,502 shares of the company’s stock, valued at approximately $64,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG increased its stake in iHeartMedia by 25.9% in the 4th 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 last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in iHeartMedia by 20.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,000,000 shares of the company’s stock worth $5,940,000 after buying an additional 500,000 shares during the period. Geode Capital Management LLC boosted its holdings in iHeartMedia by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,566,735 shares of the company’s stock worth $5,083,000 after buying an additional 51,219 shares during the period. JPMorgan Chase & Co. boosted its holdings in iHeartMedia by 21.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock worth $4,949,000 after buying an additional 436,656 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in iHeartMedia by 17.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,595,198 shares of the company’s stock worth $3,158,000 after buying an additional 231,481 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

iHeartMedia Stock Down 1.6%

Shares of iHeartMedia stock opened at $1.24 on Monday. The firm has a market cap of $182.50 million, a PE ratio of -0.18 and a beta of 1.72. iHeartMedia, Inc. has a 12-month low of $0.81 and a 12-month high of $2.84. The company’s fifty day simple moving average is $1.29 and its two-hundred day simple moving average is $1.86.

iHeartMedia (NASDAQ:IHRT) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.16). The company had revenue of $807.10 million for the quarter, compared to the consensus estimate of $790.17 million. As a group, sell-side analysts expect that iHeartMedia, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on IHRT shares. The Goldman Sachs Group increased their target price on shares of iHeartMedia from $1.00 to $1.25 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Guggenheim dropped their price objective on shares of iHeartMedia from $5.00 to $4.50 and set a “buy” rating for the company in a report on Monday, March 10th.

Insider Activity at iHeartMedia

In other iHeartMedia news, CEO Robert W. Pittman acquired 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $1.60 per share, with a total value of $320,000.00. Following the completion of the purchase, the chief executive officer now directly 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Richard J. Bressler acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $1.79 per share, for a total transaction of $179,000.00. Following the purchase, the insider now directly owns 3,617,764 shares of the company’s stock, valued at $6,475,797.56. This represents a 2.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.50% of the stock is owned by corporate insiders.

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.