iHeartMedia, Inc. $IHRT Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 26.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,187 shares of the company’s stock after selling 7,419 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in iHeartMedia were worth $39,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. US Bancorp DE increased its stake in iHeartMedia by 224.0% during the 1st quarter. US Bancorp DE now owns 16,402 shares of the company’s stock worth $27,000 after buying an additional 11,339 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of iHeartMedia by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 305,760 shares of the company’s stock worth $505,000 after acquiring an additional 13,414 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of iHeartMedia in the first quarter worth approximately $32,000. Cerity Partners LLC purchased a new stake in shares of iHeartMedia during the first quarter worth approximately $55,000. Finally, CWM LLC raised its stake in iHeartMedia by 293.0% in the 1st quarter. CWM LLC now owns 47,378 shares of the company’s stock valued at $78,000 after purchasing an additional 35,323 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

iHeartMedia Trading Down 12.2%

IHRT stock opened at $2.59 on Monday. The company’s 50 day moving average is $2.44 and its two-hundred day moving average is $1.82. iHeartMedia, Inc. has a twelve month low of $0.95 and a twelve month high of $3.33. The stock has a market cap of $388.86 million, a P/E ratio of -1.07 and a beta of 1.91.

iHeartMedia (NASDAQ:IHRT) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.26). The company had revenue of $933.65 million for the quarter, compared to analysts’ expectations of $912.35 million. On average, equities research analysts predict that iHeartMedia, Inc. will post -0.13 earnings per share for the current year.

Insider Activity at iHeartMedia

In other news, CEO Robert W. Pittman bought 117,371 shares of iHeartMedia stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $2.19 per share, with a total value of $257,042.49. Following the acquisition, the chief executive officer owned 4,558,760 shares of the company’s stock, valued at approximately $9,983,684.40. This trade represents a 2.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of iHeartMedia from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Zacks Research upgraded shares of iHeartMedia from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of iHeartMedia in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.92.

iHeartMedia Company Profile

iHeartMedia, Inc operates as an audio media company in the United States and internationally. It operates through three segments: Multiplatform Group, Digital Audio Group, and Audio & Media Services Group. The Multiplatform Group segment offers broadcast radio stations, sponsorship and events, and live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents syndicated radio programs and services to radio station affiliates.