D. E. Shaw & Co. Inc. grew its position in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 2,122.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,327,516 shares of the company’s stock after acquiring an additional 2,222,786 shares during the quarter. D. E. Shaw & Co. Inc. owned about 1.65% of iHeartMedia worth $42,244,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in shares of iHeartMedia by 13.2% during the first quarter. Victory Capital Management Inc. now owns 89,948 shares of the company’s stock valued at $1,633,000 after acquiring an additional 10,454 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of iHeartMedia by 2,294.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,538,450 shares of the company’s stock valued at $27,923,000 after acquiring an additional 1,474,190 shares during the period. Ieq Capital LLC acquired a new position in shares of iHeartMedia during the first quarter valued at $351,000. Senator Investment Group LP raised its stake in shares of iHeartMedia by 17.0% during the first quarter. Senator Investment Group LP now owns 3,581,000 shares of the company’s stock valued at $64,995,000 after purchasing an additional 520,000 shares in the last quarter. Finally, Bardin Hill Management Partners LP bought a new stake in shares of iHeartMedia during the first quarter valued at about $10,512,000. 67.60% of the stock is owned by institutional investors.
NASDAQ IHRT opened at $25.49 on Thursday. The business’s 50-day moving average is $24.73. The firm has a market cap of $3.59 billion, a P/E ratio of -7.97 and a beta of 2.30. iHeartMedia, Inc. has a 1 year low of $7.41 and a 1 year high of $28.24.
In other iHeartMedia news, CFO Michael B. Mcguinness sold 20,000 shares of iHeartMedia stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $22.45, for a total transaction of $449,000.00. Following the transaction, the chief financial officer now owns 18,630 shares of the company’s stock, valued at approximately $418,243.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.
IHRT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of iHeartMedia from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $29.00 in a research note on Monday, May 10th. Morgan Stanley lifted their price objective on shares of iHeartMedia from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday, July 8th. Barrington Research lifted their price objective on shares of iHeartMedia from $29.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, June 30th. Bank of America upgraded shares of iHeartMedia from an “underperform” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, April 13th. Finally, B. Riley reiterated a “buy” rating and issued a $35.00 price target (up from $30.00) on shares of iHeartMedia in a research report on Tuesday, June 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $26.67.
iHeartMedia, Inc operates as a media and entertainment company worldwide. It operates through two segments, Audio, and Audio & Media Services. The Audio segment offers broadcast radio, digital, mobile, podcasts, social, program syndication, traffic, weather, news and sports data distribution, and on-demand entertainment, as well as live events, including mobile platforms and products; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,500 radio station affiliates.
Recommended Story: What does a market perform rating mean?
Receive News & Ratings for iHeartMedia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iHeartMedia and related companies with MarketBeat.com's FREE daily email newsletter.