Victory Capital Management Inc. Sells 1,133 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

Victory Capital Management Inc. reduced its holdings in shares of iHeartMedia, Inc. (NASDAQ:IHRTGet Rating) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,380 shares of the company’s stock after selling 1,133 shares during the period. Victory Capital Management Inc.’s holdings in iHeartMedia were worth $955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swiss National Bank grew its position in iHeartMedia by 1.1% during the third quarter. Swiss National Bank now owns 247,100 shares of the company’s stock valued at $6,182,000 after acquiring an additional 2,600 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in iHeartMedia during the fourth quarter valued at approximately $243,000. Granby Capital Management LLC grew its position in iHeartMedia by 44.9% during the third quarter. Granby Capital Management LLC now owns 193,632 shares of the company’s stock valued at $4,845,000 after acquiring an additional 60,000 shares during the last quarter. Hudson Bay Capital Management LP grew its position in iHeartMedia by 12.8% during the third quarter. Hudson Bay Capital Management LP now owns 593,130 shares of the company’s stock valued at $14,840,000 after acquiring an additional 67,439 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in iHeartMedia by 27.1% during the third quarter. Teacher Retirement System of Texas now owns 17,875 shares of the company’s stock valued at $447,000 after acquiring an additional 3,810 shares during the last quarter. Institutional investors and hedge funds own 80.20% of the company’s stock.

NASDAQ:IHRT opened at $12.80 on Friday. The stock has a market cap of $1.82 billion, a P/E ratio of 55.65, a price-to-earnings-growth ratio of 1.35 and a beta of 1.73. The firm’s fifty day simple moving average is $17.87 and its 200 day simple moving average is $19.52. iHeartMedia, Inc. has a twelve month low of $11.38 and a twelve month high of $28.24.

iHeartMedia (NASDAQ:IHRTGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.22. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Analysts predict that iHeartMedia, Inc. will post 1.34 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of iHeartMedia from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $28.00 to $19.00 in a report on Monday, May 9th. Zacks Investment Research upgraded shares of iHeartMedia from a “strong sell” rating to a “hold” rating in a report on Friday. Finally, B. Riley cut their target price on shares of iHeartMedia from $40.00 to $36.00 in a report on Friday, May 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $28.17.

In other news, Director James A. Rasulo acquired 40,223 shares of the stock in a transaction on Thursday, May 12th. The stock was acquired at an average price of $11.95 per share, with a total value of $480,664.85. Following the completion of the transaction, the director now owns 87,591 shares of the company’s stock, valued at approximately $1,046,712.45. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert W. Pittman acquired 40,745 shares of the stock in a transaction on Tuesday, May 10th. The shares were purchased at an average cost of $12.71 per share, with a total value of $517,868.95. Following the transaction, the chief executive officer now directly owns 1,394,523 shares of the company’s stock, valued at approximately $17,724,387.33. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 4,294,855 shares of company stock worth $64,481,598. 2.90% of the stock is currently owned by company insiders.

About iHeartMedia (Get Rating)

iHeartMedia, Inc operates as a media and entertainment company worldwide. 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 live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,400 radio station affiliates.

See Also

Institutional Ownership by Quarter for iHeartMedia (NASDAQ:IHRT)

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