iHeartMedia, Inc. $IHRT Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC lowered its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 18.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 451,080 shares of the company’s stock after selling 101,259 shares during the period. Wolverine Asset Management LLC owned approximately 0.30% of iHeartMedia worth $1,876,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in iHeartMedia during the 3rd quarter valued at $25,000. BNP Paribas Financial Markets grew its holdings in iHeartMedia by 42.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 18,655 shares of the company’s stock valued at $33,000 after purchasing an additional 5,591 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in iHeartMedia during the 3rd quarter valued at $36,000. Tower Research Capital LLC TRC grew its holdings in iHeartMedia by 341.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 24,342 shares of the company’s stock valued at $43,000 after purchasing an additional 18,831 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in iHeartMedia by 757.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 15,923 shares of the company’s stock valued at $46,000 after purchasing an additional 14,065 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Insider Activity at iHeartMedia

In other news, CEO Robert W. Pittman purchased 16,349 shares of iHeartMedia stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $2.97 per share, for a total transaction of $48,556.53. Following the transaction, the chief executive officer owned 6,231,286 shares in the company, valued at $18,506,919.42. The trade was a 0.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 10.20% of the company’s stock.

iHeartMedia Stock Up 2.1%

iHeartMedia stock opened at $6.28 on Wednesday. The firm has a 50-day moving average price of $3.50 and a two-hundred day moving average price of $3.70. The firm has a market capitalization of $946.02 million, a price-to-earnings ratio of -2.05, a PEG ratio of 58.96 and a beta of 2.33. iHeartMedia, Inc. has a 52-week low of $1.03 and a 52-week high of $6.56.

iHeartMedia (NASDAQ:IHRT) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. iHeartMedia had a negative return on equity of 1.63% and a negative net margin of 12.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of iHeartMedia in a research note on Tuesday, April 21st. The Goldman Sachs Group lowered shares of iHeartMedia from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $4.00 to $3.50 in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $4.25.

About iHeartMedia

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.