Readystate Asset Management LP Grows Stock Holdings in iHeartMedia, Inc. (NASDAQ:IHRT)

Readystate Asset Management LP grew its stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 25.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,521 shares of the company’s stock after acquiring an additional 14,573 shares during the quarter. Readystate Asset Management LP’s holdings in iHeartMedia were worth $191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of iHeartMedia by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 10,788,849 shares of the company’s stock worth $79,082,000 after purchasing an additional 105,422 shares during the period. BlackRock Inc. increased its position in shares of iHeartMedia by 2.5% during the 2nd quarter. BlackRock Inc. now owns 8,845,987 shares of the company’s stock worth $32,199,000 after purchasing an additional 215,304 shares during the last quarter. Douglas Lane & Associates LLC grew its position in iHeartMedia by 45.5% in the 3rd quarter. Douglas Lane & Associates LLC now owns 8,273,158 shares of the company’s stock valued at $26,143,000 after acquiring an additional 2,586,256 shares in the last quarter. Silver Point Capital L.P. grew its position in iHeartMedia by 13.6% in the 4th quarter. Silver Point Capital L.P. now owns 5,546,124 shares of the company’s stock valued at $33,998,000 after acquiring an additional 665,400 shares in the last quarter. Finally, FMR LLC grew its position in iHeartMedia by 12.2% in the 2nd quarter. FMR LLC now owns 4,011,941 shares of the company’s stock valued at $31,654,000 after acquiring an additional 437,538 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Ratings Changes

Separately, Guggenheim decreased their price objective on iHeartMedia from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.07.

iHeartMedia Price Performance

Shares of NASDAQ:IHRT traded down $0.02 during trading on Thursday, reaching $1.93. The company had a trading volume of 756,071 shares, compared to its average volume of 895,218. The stock’s fifty day moving average price is $2.22 and its 200 day moving average price is $2.41. iHeartMedia, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $4.74. The firm has a market capitalization of $279.37 million, a price-to-earnings ratio of -0.26 and a beta of 1.88.

iHeartMedia (NASDAQ:IHRT) last posted its earnings results on Thursday, February 29th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. iHeartMedia had a negative return on equity of 1,197.12% and a negative net margin of 29.40%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business earned $0.54 earnings per share. On average, equities analysts anticipate that iHeartMedia, Inc. will post 0.05 EPS for the current fiscal 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.