Lazard Asset Management LLC Buys Shares of 9,383 iHeartMedia, Inc. (NASDAQ:IHRT)

Lazard Asset Management LLC bought a new stake in iHeartMedia, Inc. (NASDAQ:IHRTGet Rating) in the second quarter, HoldingsChannel.com reports. The fund bought 9,383 shares of the company’s stock, valued at approximately $74,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its stake in iHeartMedia by 5.1% in the first quarter. Teacher Retirement System of Texas now owns 24,327 shares of the company’s stock valued at $461,000 after acquiring an additional 1,187 shares during the period. Great West Life Assurance Co. Can boosted its stake in iHeartMedia by 19.7% in the first quarter. Great West Life Assurance Co. Can now owns 10,175 shares of the company’s stock valued at $204,000 after acquiring an additional 1,676 shares during the period. AlphaCrest Capital Management LLC boosted its stake in iHeartMedia by 8.5% in the first quarter. AlphaCrest Capital Management LLC now owns 51,489 shares of the company’s stock valued at $975,000 after acquiring an additional 4,039 shares during the period. Mackenzie Financial Corp boosted its stake in iHeartMedia by 21.6% in the first quarter. Mackenzie Financial Corp now owns 35,731 shares of the company’s stock valued at $676,000 after acquiring an additional 6,342 shares during the period. Finally, Hohimer Wealth Management LLC boosted its position in shares of iHeartMedia by 9.1% during the second quarter. Hohimer Wealth Management LLC now owns 105,801 shares of the company’s stock worth $835,000 after buying an additional 8,787 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

iHeartMedia Price Performance

NASDAQ IHRT opened at $8.04 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of -5.15 and a beta of 1.64. iHeartMedia, Inc. has a 1 year low of $6.43 and a 1 year high of $22.12. The business’s fifty day moving average is $8.18 and its two-hundred day moving average is $8.96. The company has a debt-to-equity ratio of 9.37, a quick ratio of 1.90 and a current ratio of 1.90.

iHeartMedia (NASDAQ:IHRTGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $988.93 million for the quarter, compared to analysts’ expectations of $982.71 million. iHeartMedia had a positive return on equity of 13.23% and a negative net margin of 6.05%. On average, research analysts forecast that iHeartMedia, Inc. will post -1.85 earnings per share for the current fiscal year.

Insider Buying and Selling at iHeartMedia

In related news, CEO Robert W. Pittman purchased 14,144 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were bought at an average price of $7.22 per share, with a total value of $102,119.68. Following the completion of the acquisition, the chief executive officer now owns 1,788,777 shares of the company’s stock, valued at $12,914,969.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

IHRT has been the subject of several analyst reports. The Goldman Sachs Group downgraded iHeartMedia from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $9.00 in a research report on Wednesday, August 10th. Barrington Research dropped their target price on iHeartMedia to $13.00 in a report on Tuesday, November 15th. B. Riley boosted their target price on iHeartMedia from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, October 14th. Finally, Morgan Stanley dropped their target price on iHeartMedia from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Friday, October 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.00.

iHeartMedia Profile

(Get Rating)

iHeartMedia, Inc operates as a media and entertainment company worldwide. 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 live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,400 radio station affiliates.

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Institutional Ownership by Quarter for iHeartMedia (NASDAQ:IHRT)

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