iHeartMedia, Inc. (NASDAQ:IHRT) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 2.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,688,805 shares of the company’s stock after acquiring an additional 35,983 shares during the period. Federated Hermes Inc. owned 1.17% of iHeartMedia worth $4,509,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bridgecreek Investment Management LLC acquired a new position in iHeartMedia in the 3rd quarter valued at $32,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of iHeartMedia during the 3rd quarter worth $42,000. Principal Financial Group Inc. increased its holdings in shares of iHeartMedia by 39.4% during the 3rd quarter. Principal Financial Group Inc. now owns 15,207 shares of the company’s stock worth $48,000 after buying an additional 4,301 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of iHeartMedia by 37.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,765 shares of the company’s stock worth $77,000 after buying an additional 7,882 shares during the last quarter. Finally, Aristeia Capital LLC acquired a new stake in shares of iHeartMedia during the 3rd quarter worth $101,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

iHeartMedia Trading Up 1.9 %

Shares of iHeartMedia stock opened at $2.14 on Friday. The company has a fifty day moving average price of $2.15 and a 200 day moving average price of $2.38. iHeartMedia, Inc. has a twelve month low of $1.77 and a twelve month high of $4.74. The stock has a market cap of $309.76 million, a price-to-earnings ratio of -0.29 and a beta of 1.88.

iHeartMedia (NASDAQ:IHRT) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. iHeartMedia had a negative net margin of 29.40% and a negative return on equity of 1,197.12%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company earned $0.54 EPS. Analysts forecast that iHeartMedia, Inc. will post 0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Guggenheim dropped their price objective on iHeartMedia from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, iHeartMedia has a consensus rating of “Hold” and an average price target of $4.07.

About iHeartMedia

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.