iHeartMedia, Inc. (NASDAQ:IHRT) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in iHeartMedia, Inc. (NASDAQ:IHRTFree Report) by 10.8% in the fourth quarter, HoldingsChannel reports. The fund owned 3,949,501 shares of the company’s stock after purchasing an additional 384,092 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in iHeartMedia were worth $10,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCG Advisory Services LLC acquired a new stake in shares of iHeartMedia in the fourth quarter valued at $27,000. AEGON USA Investment Management LLC lifted its holdings in iHeartMedia by 41.8% in the 4th quarter. AEGON USA Investment Management LLC now owns 91,440 shares of the company’s stock valued at $244,000 after acquiring an additional 26,977 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings in iHeartMedia by 29.1% in the 4th quarter. Wolverine Asset Management LLC now owns 552,339 shares of the company’s stock valued at $1,475,000 after acquiring an additional 124,357 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of iHeartMedia by 2.2% during the 4th quarter. Federated Hermes Inc. now owns 1,688,805 shares of the company’s stock valued at $4,509,000 after purchasing an additional 35,983 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of iHeartMedia by 37.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,765 shares of the company’s stock worth $77,000 after purchasing an additional 7,882 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IHRT has been the subject of several recent research reports. The Goldman Sachs Group cut their target price on shares of iHeartMedia from $2.00 to $1.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Guggenheim cut their price objective on iHeartMedia from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.38.

Get Our Latest Stock Report on IHRT

iHeartMedia Price Performance

iHeartMedia stock opened at $0.93 on Friday. iHeartMedia, Inc. has a fifty-two week low of $0.81 and a fifty-two week high of $4.74. The firm’s 50 day simple moving average is $1.78 and its 200-day simple moving average is $2.22. The company has a market cap of $135.33 million, a P/E ratio of -0.16, a price-to-earnings-growth ratio of 0.10 and a beta of 1.84.

iHeartMedia (NASDAQ:IHRTGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.43. The firm had revenue of $799.04 million for the quarter, compared to analysts’ expectations of $806.62 million. iHeartMedia had a negative net margin of 24.04% and a negative return on equity of 1,197.12%. During the same period in the previous year, the company posted ($1.50) EPS. On average, analysts expect that iHeartMedia, Inc. will post 0.32 EPS for the current fiscal year.

iHeartMedia Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for iHeartMedia (NASDAQ:IHRT)

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