iHeartMedia, Inc. (NASDAQ:IHRT) Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 287.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 784,374 shares of the company’s stock after acquiring an additional 581,980 shares during the period. Acadian Asset Management LLC owned about 0.54% of iHeartMedia worth $854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Jump Financial LLC bought a new position in iHeartMedia in the 4th quarter worth approximately $214,000. Douglas Lane & Associates LLC grew its stake in iHeartMedia by 4.4% during the 1st quarter. Douglas Lane & Associates LLC now owns 8,098,512 shares of the company’s stock valued at $16,926,000 after acquiring an additional 342,901 shares in the last quarter. Vanguard Group Inc. lifted its position in iHeartMedia by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company’s stock worth $13,754,000 after buying an additional 203,917 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in iHeartMedia by 169.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock valued at $84,000 after purchasing an additional 25,001 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in iHeartMedia during the first quarter valued at approximately $181,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analysts Set New Price Targets

Separately, Bank of America dropped their price target on shares of iHeartMedia from $1.70 to $1.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.00.

iHeartMedia Price Performance

iHeartMedia stock opened at $1.67 on Tuesday. The company’s 50 day simple moving average is $1.50 and its 200 day simple moving average is $1.58. iHeartMedia, Inc. has a fifty-two week low of $0.81 and a fifty-two week high of $3.68. The firm has a market capitalization of $241.81 million, a price-to-earnings ratio of -0.28, a PEG ratio of 0.38 and a beta of 1.70.

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

iHeartMedia Company 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.