Kapitalo Investimentos Ltda Makes New $52,000 Investment in iHeartMedia, Inc. $IHRT

Kapitalo Investimentos Ltda acquired a new stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 29,814 shares of the company’s stock, valued at approximately $52,000.

Several other institutional investors also recently made changes to their positions in the stock. US Bancorp DE lifted its holdings in iHeartMedia by 224.0% in the 1st quarter. US Bancorp DE now owns 16,402 shares of the company’s stock worth $27,000 after buying an additional 11,339 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of iHeartMedia in the 1st quarter worth approximately $32,000. BNP Paribas Financial Markets acquired a new stake in shares of iHeartMedia in the 4th quarter worth approximately $33,000. Wealth Enhancement Advisory Services LLC acquired a new stake in iHeartMedia during the first quarter valued at approximately $46,000. Finally, State of Wyoming purchased a new stake in shares of iHeartMedia in the 4th quarter valued at approximately $49,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on IHRT. Wall Street Zen upgraded shares of iHeartMedia from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Zacks Research raised shares of iHeartMedia from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.92.

Insider Buying and Selling at iHeartMedia

In other news, CEO Robert W. Pittman bought 117,371 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of $2.19 per share, with a total value of $257,042.49. Following the completion of the purchase, the chief executive officer directly owned 4,558,760 shares in the company, valued at $9,983,684.40. This represents a 2.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 6.30% of the company’s stock.

iHeartMedia Stock Performance

Shares of NASDAQ:IHRT opened at $3.03 on Monday. The company’s 50-day moving average is $2.16 and its 200 day moving average is $1.70. The company has a market capitalization of $454.92 million, a P/E ratio of -1.25 and a beta of 1.87. iHeartMedia, Inc. has a fifty-two week low of $0.95 and a fifty-two week high of $3.33.

iHeartMedia (NASDAQ:IHRT) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.26). iHeartMedia had a negative net margin of 9.68% and a negative return on equity of 2.84%. The firm had revenue of $933.65 million during the quarter, compared to the consensus estimate of $912.35 million. As a group, research analysts predict that iHeartMedia, Inc. will post -0.13 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.