Renaissance Technologies LLC Raises Position in iHeartMedia, Inc. (NASDAQ:IHRT)

Renaissance Technologies LLC boosted its position in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 644.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,800 shares of the company’s stock after buying an additional 144,400 shares during the period. Renaissance Technologies LLC owned 0.12% of iHeartMedia worth $182,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in IHRT. Optas LLC purchased a new position in iHeartMedia during the second quarter worth approximately $29,000. PFG Investments LLC raised its holdings in shares of iHeartMedia by 53.5% during the 2nd quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock worth $36,000 after acquiring an additional 11,500 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of iHeartMedia by 169.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock valued at $84,000 after acquiring an additional 25,001 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of iHeartMedia in the second quarter valued at about $69,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of iHeartMedia in the first quarter valued at about $181,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

iHeartMedia Price Performance

iHeartMedia stock opened at $1.97 on Monday. The firm has a 50 day simple moving average of $1.63 and a 200-day simple moving average of $1.55. The stock has a market cap of $289.22 million, a price-to-earnings ratio of -0.30, a price-to-earnings-growth ratio of 0.44 and a beta of 1.71. iHeartMedia, Inc. has a 1-year low of $0.81 and a 1-year high of $3.12.

iHeartMedia (NASDAQ:IHRT) last released its quarterly earnings results 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 company had revenue of $929.09 million during the quarter, compared to analysts’ expectations of $918.03 million. Equities analysts expect that iHeartMedia, Inc. will post 0.17 earnings per share for the current fiscal 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.