iHeartMedia, Inc. (NASDAQ:IHRT) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 4.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 184,290 shares of the company’s stock after purchasing an additional 7,258 shares during the period. Rhumbline Advisers’ holdings in iHeartMedia were worth $201,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in IHRT. Douglas Lane & Associates LLC increased its position in iHeartMedia by 4.4% during the 1st quarter. Douglas Lane & Associates LLC now owns 8,098,512 shares of the company’s stock worth $16,926,000 after purchasing an additional 342,901 shares in the last quarter. Vanguard Group Inc. lifted its position in iHeartMedia by 3.2% during the first quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company’s stock valued at $13,754,000 after buying an additional 203,917 shares in the last quarter. Bank of New York Mellon Corp grew its stake in iHeartMedia by 10.3% during the second quarter. Bank of New York Mellon Corp now owns 403,283 shares of the company’s stock worth $440,000 after buying an additional 37,656 shares during the period. Brigade Capital Management LP increased its position in shares of iHeartMedia by 169.2% in the fourth quarter. Brigade Capital Management LP now owns 368,767 shares of the company’s stock worth $985,000 after acquiring an additional 231,767 shares in the last quarter. Finally, AEGON USA Investment Management LLC lifted its holdings in shares of iHeartMedia by 128.3% during the 2nd quarter. AEGON USA Investment Management LLC now owns 208,713 shares of the company’s stock valued at $227,000 after acquiring an additional 117,273 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Bank of America lowered their price target on iHeartMedia from $1.70 to $1.00 and set an “underperform” rating for the company in a report on Monday, June 3rd. Two investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.00.

iHeartMedia Price Performance

Shares of IHRT opened at $1.71 on Monday. The stock has a fifty day moving average price of $1.56 and a 200 day moving average price of $1.55. The company has a market cap of $247.60 million, a P/E ratio of -0.28, a PEG ratio of 0.33 and a beta of 1.70. iHeartMedia, Inc. has a 12 month low of $0.81 and a 12 month high of $3.45.

iHeartMedia (NASDAQ:IHRT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.08. The business had revenue of $929.09 million for the quarter, compared to analyst estimates of $918.03 million. As a group, research analysts anticipate that iHeartMedia, Inc. will post 0.17 earnings per share for the current year.

iHeartMedia 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.