Readystate Asset Management LP Boosts Stock Position in iHeartMedia, Inc. (NASDAQ:IHRT)

Readystate Asset Management LP grew its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 25.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,521 shares of the company’s stock after buying an additional 14,573 shares during the quarter. Readystate Asset Management LP’s holdings in iHeartMedia were worth $191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IHRT. TCG Advisory Services LLC acquired a new stake in shares of iHeartMedia in the fourth quarter worth approximately $27,000. Tower Research Capital LLC TRC boosted its stake in shares of iHeartMedia by 203.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,510 shares of the company’s stock worth $30,000 after acquiring an additional 6,374 shares during the last quarter. Bridgecreek Investment Management LLC acquired a new stake in shares of iHeartMedia in the third quarter worth approximately $32,000. Creative Planning acquired a new stake in shares of iHeartMedia in the third quarter worth approximately $33,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of iHeartMedia in the third quarter worth approximately $42,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

iHeartMedia Trading Down 1.0 %

NASDAQ IHRT traded down $0.02 on Thursday, reaching $1.93. 756,071 shares of the company were exchanged, compared to its average volume of 895,218. The business’s fifty day moving average price is $2.22 and its 200 day moving average price is $2.41. The stock has a market capitalization of $279.37 million, a P/E ratio of -0.26 and a beta of 1.88. iHeartMedia, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $4.74.

iHeartMedia (NASDAQ:IHRT) last released its quarterly earnings data 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. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. iHeartMedia had a negative return on equity of 1,197.12% and a negative net margin of 29.40%. During the same quarter in the previous year, the company posted $0.54 earnings per share. Equities research analysts forecast that iHeartMedia, Inc. will post 0.05 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.