Two Sigma Investments LP Increases Stock Holdings in iHeartMedia, Inc. (NASDAQ:IHRT)

Two Sigma Investments LP raised its stake in iHeartMedia, Inc. (NASDAQ:IHRT - Free Report) by 153.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 661,699 shares of the company's stock after acquiring an additional 400,618 shares during the quarter. Two Sigma Investments LP owned approximately 0.45% of iHeartMedia worth $1,310,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Deutsche Bank AG increased its holdings in shares of iHeartMedia by 25.9% during the 4th quarter. Deutsche Bank AG now owns 3,830,745 shares of the company's stock valued at $7,585,000 after purchasing an additional 789,170 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in iHeartMedia by 20.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,000,000 shares of the company's stock valued at $5,940,000 after buying an additional 500,000 shares in the last quarter. Helix Partners Management LP purchased a new position in iHeartMedia in the fourth quarter valued at $911,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of iHeartMedia in the fourth quarter worth about $870,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of iHeartMedia by 21.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company's stock worth $4,949,000 after acquiring an additional 436,656 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

iHeartMedia Stock Performance

Shares of IHRT stock traded down $0.05 on Friday, reaching $1.50. 688,950 shares of the company were exchanged, compared to its average volume of 843,466. iHeartMedia, Inc. has a 1 year low of $0.95 and a 1 year high of $2.84. The business has a 50-day moving average price of $1.20 and a 200 day moving average price of $1.78. The company has a market cap of $220.77 million, a price-to-earnings ratio of -0.22 and a beta of 1.75.

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

Wall Street Analyst Weigh In

IHRT has been the subject of several recent analyst reports. Wall Street Zen lowered iHeartMedia from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group raised their price objective on iHeartMedia from $1.00 to $1.25 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Finally, Guggenheim reduced their target price on iHeartMedia from $5.00 to $4.50 and set a "buy" rating for the company in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, iHeartMedia has a consensus rating of "Hold" and a consensus target price of $2.92.

Insiders Place Their Bets

In other news, CEO Robert W. Pittman bought 200,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were bought at an average cost of $1.22 per share, for a total transaction of $244,000.00. Following the acquisition, the chief executive officer now directly owns 4,441,389 shares of the company's stock, valued at $5,418,494.58. This trade represents a 4.72% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have purchased 200,725 shares of company stock valued at $245,039. Insiders own 6.30% of the company's stock.

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.