GSA Capital Partners LLP Raises Stock Holdings in iHeartMedia, Inc. $IHRT

GSA Capital Partners LLP boosted its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 513.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 229,839 shares of the company’s stock after buying an additional 192,378 shares during the quarter. GSA Capital Partners LLP owned 0.15% of iHeartMedia worth $956,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of IHRT. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of iHeartMedia during the 3rd quarter valued at about $25,000. BNP Paribas Financial Markets increased its position in shares of 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 during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of iHeartMedia during the 3rd quarter valued at about $36,000. Tower Research Capital LLC TRC increased its position in shares of 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 during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iHeartMedia in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, iHeartMedia has an average rating of “Reduce” and an average target price of $4.25.

iHeartMedia Stock Down 9.6%

NASDAQ IHRT opened at $4.41 on Friday. iHeartMedia, Inc. has a 52 week low of $1.17 and a 52 week high of $6.56. The firm has a market capitalization of $664.32 million, a P/E ratio of -2.40 and a beta of 2.33. The company has a 50-day moving average price of $4.01 and a 200-day moving average price of $3.88.

iHeartMedia (NASDAQ:IHRT) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.12). The business had revenue of $884.20 million for the quarter, compared to analysts’ expectations 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 research analysts anticipate that iHeartMedia, Inc. will post -0.06 EPS for the current year.

Insider Activity

In related news, CEO Robert W. Pittman acquired 32,468 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average cost of $3.25 per share, for a total transaction of $105,521.00. Following the purchase, the chief executive officer owned 6,214,937 shares in the company, valued at $20,198,545.25. The trade was a 0.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.20% of the company’s stock.

iHeartMedia Company 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.