Deutsche Bank AG Boosts Holdings in iHeartMedia, Inc. (NASDAQ:IHRT)

Deutsche Bank AG increased its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 10.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 184,738 shares of the company’s stock after buying an additional 17,850 shares during the quarter. Deutsche Bank AG owned 0.13% of iHeartMedia worth $4,621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Clear Harbor Asset Management LLC boosted its holdings in shares of iHeartMedia by 1.8% in the third quarter. Clear Harbor Asset Management LLC now owns 68,156 shares of the company’s stock worth $1,705,000 after buying an additional 1,235 shares during the last quarter. Pinz Capital Management LP purchased a new position in iHeartMedia during the second quarter valued at approximately $35,000. Cubist Systematic Strategies LLC lifted its holdings in iHeartMedia by 0.8% during the second quarter. Cubist Systematic Strategies LLC now owns 173,690 shares of the company’s stock valued at $4,677,000 after purchasing an additional 1,415 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in iHeartMedia by 40.4% during the second quarter. Great West Life Assurance Co. Can now owns 7,637 shares of the company’s stock valued at $206,000 after purchasing an additional 2,197 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in iHeartMedia during the second quarter valued at approximately $65,000. 72.94% of the stock is currently owned by institutional investors.

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of iHeartMedia from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, October 5th. Zacks Investment Research downgraded shares of iHeartMedia from a “buy” rating to a “hold” rating in a report on Friday. Finally, B. Riley lowered their target price on shares of iHeartMedia from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, October 20th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, iHeartMedia has an average rating of “Buy” and an average price target of $28.00.

In related news, insider Richard J. Bressler purchased 22,615 shares of the business’s stock in a transaction dated Tuesday, November 16th. The shares were purchased at an average cost of $22.14 per share, for a total transaction of $500,696.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert W. Pittman purchased 24,150 shares of the business’s stock in a transaction dated Tuesday, November 9th. The stock was bought at an average price of $20.77 per share, for a total transaction of $501,595.50. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

Shares of IHRT opened at $20.64 on Friday. The company’s fifty day moving average is $20.74 and its 200 day moving average is $23.12. iHeartMedia, Inc. has a fifty-two week low of $13.12 and a fifty-two week high of $28.24. The stock has a market capitalization of $2.93 billion, a PE ratio of -11.28, a P/E/G ratio of 1.77 and a beta of 1.90.

iHeartMedia (NASDAQ:IHRT) last posted its quarterly earnings data on Thursday, November 4th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). The business had revenue of $928.05 million for the quarter, compared to analyst estimates of $908.34 million. Analysts anticipate that iHeartMedia, Inc. will post -0.96 earnings per share for the current year.

iHeartMedia Profile

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.

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Institutional Ownership by Quarter for iHeartMedia (NASDAQ:IHRT)

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