Hsbc Holdings PLC Boosts Stake in iHeartMedia, Inc. (NASDAQ:IHRT)

Hsbc Holdings PLC lifted its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 111.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 156,842 shares of the company’s stock after buying an additional 82,641 shares during the period. Hsbc Holdings PLC’s holdings in iHeartMedia were worth $176,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of IHRT. Optas LLC bought a new position in iHeartMedia in the 2nd quarter valued at $29,000. PFG Investments LLC grew its position in iHeartMedia by 53.5% during the second quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock valued at $36,000 after buying an additional 11,500 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in iHeartMedia by 169.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock worth $84,000 after buying an additional 25,001 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of iHeartMedia during the 2nd quarter valued at approximately $69,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of iHeartMedia in the 1st quarter worth approximately $181,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

iHeartMedia Price Performance

NASDAQ:IHRT opened at $1.97 on Friday. The company has a market capitalization of $285.25 million, a P/E ratio of -0.33, a P/E/G ratio of 0.33 and a beta of 1.71. The business has a fifty day simple moving average of $1.60 and a two-hundred day simple moving average of $1.55. iHeartMedia, Inc. has a 1 year low of $0.81 and a 1 year high of $3.12.

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

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.