Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT – Get Rating) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,238 shares of the company’s stock, valued at approximately $81,000.
A number of other large investors have also made changes to their positions in IHRT. Vanguard Group Inc. grew its stake in iHeartMedia by 10.1% during the first quarter. Vanguard Group Inc. now owns 10,432,614 shares of the company’s stock worth $197,489,000 after buying an additional 956,001 shares during the last quarter. Global Media & Entertainment Investments Ltd raised its holdings in iHeartMedia by 6.6% in the first quarter. Global Media & Entertainment Investments Ltd now owns 10,262,305 shares of the company’s stock worth $194,265,000 after purchasing an additional 630,976 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of iHeartMedia by 3.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,906,295 shares of the company’s stock worth $73,946,000 after acquiring an additional 118,163 shares during the period. Douglas Lane & Associates LLC raised its holdings in shares of iHeartMedia by 14.6% during the second quarter. Douglas Lane & Associates LLC now owns 2,660,855 shares of the company’s stock worth $20,994,000 after acquiring an additional 338,726 shares during the period. Finally, State Street Corp raised its holdings in shares of iHeartMedia by 4.4% during the first quarter. State Street Corp now owns 2,293,313 shares of the company’s stock worth $43,412,000 after acquiring an additional 97,650 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.
Analyst Ratings Changes
IHRT has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered shares of iHeartMedia from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $15.00 to $9.00 in a report on Wednesday, August 10th. Morgan Stanley dropped their price objective on shares of iHeartMedia from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Friday, October 14th. Barrington Research dropped their price objective on shares of iHeartMedia to $13.00 in a report on Tuesday, November 15th. Finally, B. Riley raised their price objective on shares of iHeartMedia from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, October 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, iHeartMedia currently has a consensus rating of “Hold” and a consensus target price of $13.00.
iHeartMedia Stock Up 4.8 %
iHeartMedia (NASDAQ:IHRT – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. iHeartMedia had a negative net margin of 6.05% and a positive return on equity of 13.23%. The company had revenue of $988.93 million during the quarter, compared to the consensus estimate of $982.71 million. On average, equities analysts predict that iHeartMedia, Inc. will post -1.85 EPS for the current fiscal year.
In other news, CEO Robert W. Pittman acquired 14,144 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was bought at an average price of $7.22 per share, with a total value of $102,119.68. Following the transaction, the chief executive officer now directly owns 1,788,777 shares in the company, valued at approximately $12,914,969.94. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on iHeartMedia (IHRT)
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