Helix Partners Management LP Has $1.69 Million Stake in iHeartMedia, Inc. $IHRT

Key Points

• Helix Partners Management LP significantly increased its stake in iHeartMedia by 123.1%, now owning approximately $1.69 million worth of shares.
• Research analysts have upgraded iHeartMedia shares, with a consensus rating of "Hold" and an average price target of $2.92.
• CEO Robert W. Pittman bought 117,371 shares of iHeartMedia, increasing his stake by 2.64%, and now holds shares valued at nearly $10 million.

Helix Partners Management LP lifted its position in iHeartMedia, Inc. (NASDAQ:IHRT - Free Report) by 123.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,026,163 shares of the company's stock after purchasing an additional 566,163 shares during the period. iHeartMedia accounts for about 0.5% of Helix Partners Management LP's investment portfolio, making the stock its 8th biggest position. Helix Partners Management LP owned approximately 0.70% of iHeartMedia worth $1,693,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IHRT. US Bancorp DE raised its position in iHeartMedia by 224.0% during the 1st quarter. US Bancorp DE now owns 16,402 shares of the company's stock valued at $27,000 after purchasing an additional 11,339 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of iHeartMedia during the 1st quarter worth $32,000. BNP Paribas Financial Markets purchased a new position in shares of iHeartMedia during the fourth quarter valued at $33,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of iHeartMedia in the first quarter valued at about $46,000. Finally, State of Wyoming purchased a new stake in iHeartMedia in the fourth quarter worth about $49,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, CEO Robert W. Pittman bought 117,371 shares of iHeartMedia stock in a transaction on Thursday, August 14th. The stock was acquired 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 directly owned 4,558,760 shares of the company's stock, valued at $9,983,684.40. The trade was a 2.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.30% of the company's stock.

iHeartMedia Stock Up 2.2%

Shares of iHeartMedia stock opened at $2.29 on Wednesday. The company has a 50 day moving average price of $1.94 and a 200 day moving average price of $1.65. The firm has a market capitalization of $343.82 million, a P/E ratio of -0.94 and a beta of 1.86. iHeartMedia, Inc. has a 52 week low of $0.95 and a 52 week high of $2.84.

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

About iHeartMedia

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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