Two Sigma Investments LP Grows Position in iHeartMedia, Inc. (NASDAQ:IHRT)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in iHeartMedia during the 4th quarter valued at about $33,000. State of Wyoming bought a new stake in iHeartMedia during the 4th quarter valued at about $49,000. Algert Global LLC bought a new stake in shares of iHeartMedia in the 4th quarter valued at about $50,000. Virtu Financial LLC raised its holdings in shares of iHeartMedia by 93.3% in the 4th quarter. Virtu Financial LLC now owns 30,010 shares of the company's stock valued at $59,000 after purchasing an additional 14,485 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of iHeartMedia by 51.5% in the 4th quarter. ProShare Advisors LLC now owns 29,588 shares of the company's stock valued at $59,000 after purchasing an additional 10,061 shares in the last quarter. Institutional investors own 93.89% of the company's stock.

iHeartMedia Stock Down 3.2%

Shares of NASDAQ IHRT traded down $0.05 during trading hours on Friday, hitting $1.50. 688,950 shares of the stock were exchanged, compared to its average volume of 833,238. The company has a market cap of $220.77 million, a PE ratio of -0.22 and a beta of 1.75. The firm has a fifty day moving average price of $1.20 and a 200-day moving average price of $1.77. iHeartMedia, Inc. has a 12 month low of $0.95 and a 12 month high of $2.84.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Guggenheim reduced their price target on shares of iHeartMedia from $5.00 to $4.50 and set a "buy" rating for the company in a report on Monday, March 10th. Wall Street Zen lowered shares of iHeartMedia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group boosted their price target 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently 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 acquired 200,000 shares of iHeartMedia stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $1.22 per share, for a total transaction of $244,000.00. Following the purchase, the chief executive officer now directly owns 4,441,389 shares in the company, valued at $5,418,494.58. The trade was a 4.72% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders bought a total of 200,725 shares of company stock worth $245,039 in the last 90 days. 6.30% of the stock is owned by corporate insiders.

iHeartMedia Company 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.