Douglas Lane & Associates LLC Sells 679,457 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

by · The Markets Daily

Douglas Lane & Associates LLC lessened its stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT – Free Report) by 8.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,912,779 shares of the company’s stock after selling 679,457 shares during the period. Douglas Lane & Associates LLC owned about 4.77% of iHeartMedia worth $12,789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Aristeia Capital L.L.C. acquired a new stake in iHeartMedia during the second quarter valued at $2,461,000. AQR Capital Management LLC lifted its position in iHeartMedia by 132.4% during the second quarter. AQR Capital Management LLC now owns 3,909,729 shares of the company’s stock worth $4,262,000 after buying an additional 2,227,676 shares in the last quarter. Acadian Asset Management LLC boosted its stake in iHeartMedia by 287.5% during the second quarter. Acadian Asset Management LLC now owns 784,374 shares of the company’s stock worth $854,000 after buying an additional 581,980 shares during the last quarter. Vanguard Group Inc. grew its holdings in iHeartMedia by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company’s stock valued at $13,754,000 after buying an additional 203,917 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of iHeartMedia by 169.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock worth $84,000 after acquiring an additional 25,001 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

iHeartMedia Trading Up 0.5 %

iHeartMedia stock traded up $0.01 during midday trading on Friday, hitting $1.97. 446,383 shares of the stock were exchanged, compared to its average volume of 950,588. The stock has a market capitalization of $289.22 million, a price-to-earnings ratio of -0.30, a PEG ratio of 0.44 and a beta of 1.71. The stock’s 50-day simple moving average is $1.63 and its 200 day simple moving average is $1.55. iHeartMedia, Inc. has a fifty-two week low of $0.81 and a fifty-two week high of $3.12.

iHeartMedia (NASDAQ:IHRT – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.08. The business had revenue of $929.09 million for the quarter, compared to analysts’ expectations of $918.03 million. Equities analysts anticipate that iHeartMedia, Inc. will post 0.17 EPS for the current fiscal year.

iHeartMedia Company Profile

(Free Report)

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.

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