188,137 Shares in iHeartMedia, Inc. $IHRT Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired 188,137 shares of iHeartMedia, valued at about $310,000, boosting its stake to 0.13% of the company.
• CEO Robert W. Pittman bought 117,371 shares at approximately $2.19 per share, increasing his ownership to nearly 4.56 million shares.
• iHeartMedia's stock is currently valued at $2.10, with a recent earnings report showing a loss per share of ($0.54), missing analysts' expectations.

Nuveen LLC bought a new position in iHeartMedia, Inc. (NASDAQ:IHRT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 188,137 shares of the company's stock, valued at approximately $310,000. Nuveen LLC owned about 0.13% of iHeartMedia as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Deutsche Bank AG boosted its stake in shares of iHeartMedia by 25.9% in the 4th quarter. Deutsche Bank AG now owns 3,830,745 shares of the company's stock worth $7,585,000 after buying an additional 789,170 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in iHeartMedia by 22.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,258,206 shares of the company's stock valued at $3,726,000 after purchasing an additional 412,769 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake 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 last quarter. Northern Trust Corp lifted its stake 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 last quarter. Finally, Granby Capital Management LLC lifted its stake in iHeartMedia by 80.0% in the fourth quarter. Granby Capital Management LLC now owns 899,926 shares of the company's stock valued at $1,782,000 after purchasing an additional 399,926 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Insider Buying and Selling at iHeartMedia

In other news, CEO Robert W. Pittman purchased 117,371 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $2.19 per share, with a total value of $257,042.49. Following the completion of the acquisition, the chief executive officer owned 4,558,760 shares in the company, valued at $9,983,684.40. This trade represents a 2.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 8.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IHRT shares. Wall Street Zen upgraded iHeartMedia from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Zacks Research raised shares of iHeartMedia from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, The Goldman Sachs Group boosted their target price on shares of iHeartMedia from $1.00 to $1.25 and gave the company a "neutral" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, iHeartMedia presently has an average rating of "Hold" and an average target price of $2.92.

iHeartMedia Trading Up 10.2%

Shares of iHeartMedia stock traded up $0.22 during trading on Thursday, hitting $2.37. The stock had a trading volume of 889,235 shares, compared to its average volume of 713,561. The firm has a market cap of $355.83 million, a price-to-earnings ratio of -0.98 and a beta of 1.87. iHeartMedia, Inc. has a 12 month low of $0.95 and a 12 month high of $2.84. The business's 50-day moving average is $2.05 and its 200 day moving average is $1.66.

iHeartMedia (NASDAQ:IHRT - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.26). The firm had revenue of $933.65 million during the quarter, compared to the consensus estimate of $912.35 million. iHeartMedia had a negative return on equity of 2.84% and a negative net margin of 9.68%. As a group, equities analysts expect that iHeartMedia, Inc. will post -0.13 EPS for the current year.

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.