iHeartMedia, Inc. (NASDAQ:IHRT) Shares Acquired by Millennium Management LLC

Millennium Management LLC lifted its holdings in iHeartMedia, Inc. (NASDAQ:IHRT - Free Report) by 581.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 232,150 shares of the company's stock after acquiring an additional 198,071 shares during the quarter. Millennium Management LLC owned 0.16% of iHeartMedia worth $460,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new stake in iHeartMedia in the fourth quarter valued at $33,000. Algert Global LLC acquired a new stake in iHeartMedia during the fourth quarter worth about $50,000. Virtu Financial LLC raised its position in iHeartMedia by 93.3% during the fourth quarter. Virtu Financial LLC now owns 30,010 shares of the company's stock valued at $59,000 after acquiring an additional 14,485 shares in the last quarter. Ethic Inc. acquired a new position in iHeartMedia in the fourth quarter valued at approximately $64,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in iHeartMedia in the 4th quarter worth approximately $70,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

iHeartMedia Trading Down 3.2%

IHRT stock traded down $0.06 during midday trading on Thursday, hitting $1.69. 114,451 shares of the company's stock were exchanged, compared to its average volume of 824,467. iHeartMedia, Inc. has a 1-year low of $0.95 and a 1-year high of $2.84. The business has a 50-day simple moving average of $1.22 and a two-hundred day simple moving average of $1.76. The stock has a market capitalization of $248.74 million, a PE ratio of -0.25 and a beta of 1.75.

iHeartMedia (NASDAQ:IHRT - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.16). The company had revenue of $807.10 million during the quarter, compared to analysts' expectations of $790.17 million. As a group, research analysts expect that iHeartMedia, Inc. will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert W. Pittman acquired 200,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were acquired at an average price of $1.22 per share, with a total value of $244,000.00. Following the completion of the transaction, the chief executive officer now owns 4,441,389 shares of the company's stock, valued at $5,418,494.58. The trade was a 4.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 200,725 shares of company stock valued at $245,039 in the last ninety days. Company insiders own 8.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of iHeartMedia from $1.00 to $1.25 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Guggenheim decreased their target price on iHeartMedia from $5.00 to $4.50 and set a "buy" rating on the stock in a research report on Monday, March 10th. Finally, Wall Street Zen cut shares of iHeartMedia from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $2.92.

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.