Cwm LLC Increases Holdings in iHeartMedia, Inc. (NASDAQ:IHRT)

by · The Markets Daily

Cwm LLC grew its position in shares of iHeartMedia, Inc. (NASDAQ:IHRT – Free Report) by 293.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,378 shares of the company’s stock after buying an additional 35,323 shares during the quarter. Cwm LLC’s holdings in iHeartMedia were worth $78,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in iHeartMedia during the fourth quarter valued at approximately $33,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of iHeartMedia during the 1st quarter valued at $46,000. State of Wyoming purchased a new stake in shares of iHeartMedia in the 4th quarter worth $49,000. Algert Global LLC bought a new position in iHeartMedia in the 4th quarter worth $50,000. Finally, Cerity Partners LLC purchased a new position in iHeartMedia during the first quarter valued at $55,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Robert W. Pittman purchased 200,000 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were acquired at an average price of $1.22 per share, for a total transaction of $244,000.00. Following the purchase, the chief executive officer directly owned 4,441,389 shares in the company, valued at $5,418,494.58. This trade represents a 4.72% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.50% of the company’s stock.

iHeartMedia Stock Performance

Shares of IHRT stock opened at $1.81 on Friday. The stock has a fifty day simple moving average of $1.76 and a two-hundred day simple moving average of $1.69. The firm has a market capitalization of $267.19 million, a PE ratio of -0.22 and a beta of 1.86. iHeartMedia, Inc. has a 52-week low of $0.95 and a 52-week high of $2.84.

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 the consensus estimate of ($0.47) by ($0.16). The business had revenue of $807.10 million for the quarter, compared to analysts’ expectations of $790.17 million. iHeartMedia had a negative return on equity of 2.84% and a negative net margin of 32.95%. On average, sell-side analysts forecast that iHeartMedia, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IHRT has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price target on iHeartMedia from $1.00 to $1.25 and gave the stock a “neutral” rating in a research report on Wednesday, May 14th. Wall Street Zen raised shares of iHeartMedia from a “sell” rating to a “hold” rating in a report on Saturday, June 14th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, iHeartMedia presently has an average rating of “Hold” and an average target price of $2.92.

View Our Latest Stock Report on iHeartMedia

iHeartMedia Profile

(Free Report)

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.

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