iHeartMedia (NASDAQ:IHRT) Posts Earnings Results, Misses Estimates By $0.16 EPS

iHeartMedia (NASDAQ:IHRT) posted its quarterly earnings data on Monday. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.16), Zacks reports.

iHeartMedia Stock Up 2.4%

NASDAQ:IHRT traded up $0.03 during trading hours on Monday, hitting $1.29. 1,039,118 shares of the stock traded hands, compared to its average volume of 921,609. iHeartMedia has a 1 year low of $0.81 and a 1 year high of $2.84. The company has a market cap of $189.86 million, a price-to-earnings ratio of -0.19 and a beta of 1.72. The stock has a 50 day moving average price of $1.34 and a 200 day moving average price of $1.88.

Analysts Set New Price Targets

Separately, Guggenheim dropped their price objective on shares of iHeartMedia from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Monday, March 10th.

Insider Buying and Selling at iHeartMedia

In related news, insider Richard J. Bressler bought 100,000 shares of the stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $1.79 per share, with a total value of $179,000.00. Following the completion of the acquisition, the insider now owns 3,617,764 shares of the company’s stock, valued at $6,475,797.56. This represents a 2.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert W. Pittman bought 200,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $1.60 per share, for a total transaction of $320,000.00. Following the acquisition, the chief executive officer now directly owns 4,241,389 shares of the company’s stock, valued at approximately $6,786,222.40. This represents a 4.95% increase in their position. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.

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.