GSA Capital Partners LLP Buys 192,378 Shares of iHeartMedia, Inc. $IHRT

GSA Capital Partners LLP lifted its stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 513.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 229,839 shares of the company’s stock after acquiring an additional 192,378 shares during the quarter. GSA Capital Partners LLP’s holdings in iHeartMedia were worth $956,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Global Media & Entertainment Investments Ltd bought a new position in shares of iHeartMedia during the 3rd quarter valued at approximately $52,061,800,000. Vanguard Group Inc. boosted its stake in iHeartMedia by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,022,354 shares of the company’s stock worth $20,154,000 after purchasing an additional 93,757 shares during the period. Goldman Sachs Group Inc. boosted its stake in iHeartMedia by 22.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,872,316 shares of the company’s stock worth $4,739,000 after purchasing an additional 532,414 shares during the period. Geode Capital Management LLC boosted its stake in iHeartMedia by 7.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,822,306 shares of the company’s stock worth $4,968,000 after purchasing an additional 186,402 shares during the period. Finally, Foursixthree Capital LP boosted its stake in iHeartMedia by 24.6% in the 3rd quarter. Foursixthree Capital LP now owns 2,357,590 shares of the company’s stock worth $6,766,000 after purchasing an additional 465,820 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Insider Activity at iHeartMedia

In other news, CEO Robert W. Pittman bought 32,468 shares of the stock in a transaction dated Thursday, March 5th. The stock was purchased at an average cost of $3.25 per share, for a total transaction of $105,521.00. Following the transaction, the chief executive officer owned 6,214,937 shares of the company’s stock, valued at $20,198,545.25. The trade was a 0.53% 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. Corporate insiders own 10.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of iHeartMedia in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $4.25.

iHeartMedia Stock Performance

NASDAQ IHRT opened at $4.41 on Friday. The company has a market capitalization of $664.32 million, a P/E ratio of -2.40 and a beta of 2.33. iHeartMedia, Inc. has a one year low of $1.17 and a one year high of $6.56. The stock has a 50 day moving average price of $4.01 and a 200-day moving average price of $3.88.

iHeartMedia (NASDAQ:IHRT) last posted its earnings results on Monday, May 11th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.12). The firm had revenue of $884.20 million for the quarter, compared to the consensus estimate of $871.50 million. iHeartMedia had a negative net margin of 7.28% and a negative return on equity of 1.63%. As a group, equities analysts predict that iHeartMedia, Inc. will post -0.06 EPS for the current fiscal year.

iHeartMedia Profile

iHeartMedia, Inc (NASDAQ: IHRT) is a leading media and entertainment company specializing in radio broadcasting, digital streaming and live events. The company operates more than 860 full-power AM and FM radio stations across the United States, delivering music, news, sports and talk programming to local markets. Through its flagship digital platform, iHeartRadio, the company provides listeners with free and subscription-based access to thousands of live radio stations, curated music playlists and on-demand podcasts.

Originally founded in 1972 as Clear Channel Communications, the business rebranded to iHeartMedia in 2014 to reflect the growing importance of its digital and event-driven offerings.