Vanguard Group Inc. Has $13.75 Million Position in iHeartMedia, Inc. (NASDAQ:IHRT)

Vanguard Group Inc. grew its position in iHeartMedia, Inc. (NASDAQ:IHRT) by 3.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,580,896 shares of the company’s stock after purchasing an additional 203,917 shares during the period. Vanguard Group Inc.’s holdings in iHeartMedia were worth $13,754,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in IHRT. Charles Schwab Investment Management Inc. raised its stake in shares of iHeartMedia by 10.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,949,501 shares of the company’s stock valued at $10,545,000 after acquiring an additional 384,092 shares during the last quarter. Douglas Lane & Associates LLC raised its position in iHeartMedia by 4.4% in the 1st quarter. Douglas Lane & Associates LLC now owns 8,098,512 shares of the company’s stock valued at $16,926,000 after purchasing an additional 342,901 shares during the last quarter. Brigade Capital Management LP raised its position in iHeartMedia by 169.2% in the 4th quarter. Brigade Capital Management LP now owns 368,767 shares of the company’s stock valued at $985,000 after purchasing an additional 231,767 shares during the last quarter. Contrarian Capital Management L.L.C. increased its stake in shares of iHeartMedia by 48.3% in the fourth quarter. Contrarian Capital Management L.L.C. now owns 613,730 shares of the company’s stock valued at $1,639,000 after buying an additional 200,000 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its holdings in shares of iHeartMedia by 29.1% in the fourth quarter. Wolverine Asset Management LLC now owns 552,339 shares of the company’s stock valued at $1,475,000 after buying an additional 124,357 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

iHeartMedia Price Performance

Shares of NASDAQ:IHRT opened at $1.33 on Wednesday. The stock has a market cap of $192.58 million, a price-to-earnings ratio of -0.22, a P/E/G ratio of 0.22 and a beta of 1.71. The company has a 50 day moving average of $1.28 and a 200-day moving average of $1.76. iHeartMedia, Inc. has a one year low of $0.81 and a one year high of $3.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America decreased their price objective on shares of iHeartMedia from $1.70 to $1.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. Guggenheim decreased their price target on shares of iHeartMedia from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Finally, The Goldman Sachs Group dropped their price objective on shares of iHeartMedia from $2.00 to $1.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.00.

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.