2,257,583 Shares in iHeartMedia, Inc. (NASDAQ:IHRT) Purchased by Aristeia Capital L.L.C.

Aristeia Capital L.L.C. acquired a new stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,257,583 shares of the company’s stock, valued at approximately $2,461,000. Aristeia Capital L.L.C. owned approximately 1.56% of iHeartMedia at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IHRT. Hsbc Holdings PLC boosted its stake in iHeartMedia by 111.4% in the 2nd quarter. Hsbc Holdings PLC now owns 156,842 shares of the company’s stock valued at $176,000 after buying an additional 82,641 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of iHeartMedia by 644.6% in the 2nd quarter. Renaissance Technologies LLC now owns 166,800 shares of the company’s stock worth $182,000 after purchasing an additional 144,400 shares during the last quarter. PFG Investments LLC increased its position 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 purchasing an additional 11,500 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in iHeartMedia by 287.5% during the 2nd quarter. Acadian Asset Management LLC now owns 784,374 shares of the company’s stock valued at $854,000 after purchasing an additional 581,980 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in iHeartMedia by 4.1% in the second quarter. Rhumbline Advisers now owns 184,290 shares of the company’s stock valued at $201,000 after buying an additional 7,258 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

iHeartMedia Stock Down 4.9 %

Shares of NASDAQ IHRT opened at $1.55 on Tuesday. iHeartMedia, Inc. has a 12-month low of $0.81 and a 12-month high of $3.68. The firm’s 50-day simple moving average is $1.54 and its 200 day simple moving average is $1.57. The company has a market cap of $224.44 million, a price-to-earnings ratio of -0.26, a price-to-earnings-growth ratio of 0.38 and a beta of 1.70.

iHeartMedia (NASDAQ:IHRT) last announced its earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.08. The company had revenue of $929.09 million for the quarter, compared to analyst estimates of $918.03 million. On average, equities analysts expect 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.