iHeartMedia, Inc. $IHRT Shares Sold by Granby Capital Management LLC

Granby Capital Management LLC lowered its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 30.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 450,000 shares of the company’s stock after selling 200,000 shares during the period. iHeartMedia makes up 1.0% of Granby Capital Management LLC’s portfolio, making the stock its 14th biggest position. Granby Capital Management LLC’s holdings in iHeartMedia were worth $1,872,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IHRT. AQR Capital Management LLC increased its position in shares of iHeartMedia by 99.8% in the first quarter. AQR Capital Management LLC now owns 2,214,301 shares of the company’s stock worth $3,654,000 after acquiring an additional 1,105,976 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of iHeartMedia by 22.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,872,316 shares of the company’s stock worth $4,739,000 after acquiring an additional 532,414 shares in the last quarter. Strs Ohio acquired a new stake in shares of iHeartMedia in the first quarter worth $186,000. Geode Capital Management LLC increased its position in shares of iHeartMedia by 7.1% in the second quarter. Geode Capital Management LLC now owns 2,822,306 shares of the company’s stock worth $4,968,000 after acquiring an additional 186,402 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of iHeartMedia by 7.1% in the second quarter. Rhumbline Advisers now owns 168,006 shares of the company’s stock worth $296,000 after acquiring an additional 11,101 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

iHeartMedia Stock Performance

Shares of IHRT stock opened at $3.99 on Wednesday. The company has a market capitalization of $603.09 million, a PE ratio of -2.17 and a beta of 2.21. The firm has a fifty day simple moving average of $4.49 and a 200-day simple moving average of $3.89. iHeartMedia, Inc. has a twelve month low of $1.54 and a twelve month high of $6.56.

iHeartMedia (NASDAQ:IHRT) last announced its earnings results on Monday, May 11th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.12). The firm had revenue of $884.20 million during the quarter, compared to analysts’ expectations of $871.50 million. iHeartMedia had a negative net margin of 7.28% and a negative return on equity of 1.63%. Equities research analysts predict that iHeartMedia, Inc. will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of iHeartMedia in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $4.25.

iHeartMedia Profile

iHeartMedia, Inc (NASDAQ: IHRT) is a leading media and entertainment company specializing in radio broadcasting, digital streaming and live events. The company operates more than 860 full-power AM and FM radio stations across the United States, delivering music, news, sports and talk programming to local markets. Through its flagship digital platform, iHeartRadio, the company provides listeners with free and subscription-based access to thousands of live radio stations, curated music playlists and on-demand podcasts.

Originally founded in 1972 as Clear Channel Communications, the business rebranded to iHeartMedia in 2014 to reflect the growing importance of its digital and event-driven offerings.