TCG Advisory Services LLC Invests $27,000 in iHeartMedia, Inc. (NASDAQ:IHRT)

TCG Advisory Services LLC bought a new stake in iHeartMedia, Inc. (NASDAQ:IHRT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AEGON USA Investment Management LLC increased its stake in shares of iHeartMedia by 41.8% during the fourth quarter. AEGON USA Investment Management LLC now owns 91,440 shares of the company’s stock valued at $244,000 after acquiring an additional 26,977 shares during the period. Wolverine Asset Management LLC lifted its position in shares of iHeartMedia by 29.1% during the 4th quarter. Wolverine Asset Management LLC now owns 552,339 shares of the company’s stock valued at $1,475,000 after acquiring an additional 124,357 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of iHeartMedia by 2.2% during the 4th quarter. Federated Hermes Inc. now owns 1,688,805 shares of the company’s stock worth $4,509,000 after acquiring an additional 35,983 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of iHeartMedia by 37.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,765 shares of the company’s stock worth $77,000 after acquiring an additional 7,882 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of iHeartMedia by 103.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 103,853 shares of the company’s stock worth $277,000 after purchasing an additional 52,926 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Guggenheim reduced their price objective on shares of iHeartMedia from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.98.

iHeartMedia Trading Up 4.9 %

NASDAQ:IHRT opened at $2.36 on Tuesday. The business’s fifty day moving average price is $2.12 and its 200 day moving average price is $2.36. The firm has a market capitalization of $341.61 million, a price-to-earnings ratio of -0.32 and a beta of 1.84. iHeartMedia, Inc. has a 1-year low of $1.77 and a 1-year high of $4.74.

iHeartMedia (NASDAQ:IHRT) last issued its earnings results on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. iHeartMedia had a negative return on equity of 1,197.12% and a negative net margin of 29.40%. During the same quarter in the prior year, the company earned $0.54 EPS. Equities analysts forecast that iHeartMedia, Inc. will post 0.05 earnings per share for the current 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.