Voya Investment Management LLC Lowers Holdings in iHeartMedia, Inc. $IHRT

Voya Investment Management LLC decreased its position in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 87.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,683 shares of the company’s stock after selling 162,349 shares during the quarter. Voya Investment Management LLC’s holdings in iHeartMedia were worth $65,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IHRT. MetLife Investment Management LLC increased its position in iHeartMedia by 216.3% during the 1st quarter. MetLife Investment Management LLC now owns 60,369 shares of the company’s stock valued at $100,000 after purchasing an additional 41,282 shares during the period. AQR Capital Management LLC boosted its stake in shares of iHeartMedia by 99.8% during the first quarter. AQR Capital Management LLC now owns 2,214,301 shares of the company’s stock valued at $3,654,000 after purchasing an additional 1,105,976 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in iHeartMedia by 139.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,049,664 shares of the company’s stock valued at $1,732,000 after buying an additional 610,449 shares during the period. Goldman Sachs Group Inc. raised its stake in 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 buying an additional 532,414 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in iHeartMedia by 64.3% during the 1st quarter. Acadian Asset Management LLC now owns 3,221,043 shares of the company’s stock valued at $5,309,000 after acquiring an additional 1,260,142 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IHRT shares. Bank of America boosted their price target on iHeartMedia from $3.00 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. The Goldman Sachs Group lowered iHeartMedia from a “neutral” rating to a “sell” rating and cut their target price for the company from $4.00 to $3.50 in a research note on Friday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of iHeartMedia in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, iHeartMedia presently has a consensus rating of “Reduce” and a consensus target price of $4.33.

iHeartMedia Price Performance

Shares of IHRT stock opened at $3.98 on Friday. iHeartMedia, Inc. has a 1-year low of $0.95 and a 1-year high of $5.44. The stock’s fifty day moving average price is $4.13 and its 200 day moving average price is $2.97. The company has a market cap of $597.63 million, a price-to-earnings ratio of -1.54, a price-to-earnings-growth ratio of 0.33 and a beta of 1.67.

iHeartMedia (NASDAQ:IHRT) last released its quarterly earnings results on Monday, November 10th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.64. iHeartMedia had a negative return on equity of 1.63% and a negative net margin of 10.37%.The company had revenue of $997.01 million during the quarter, compared to analysts’ expectations of $1.07 billion. As a group, equities research analysts anticipate that iHeartMedia, Inc. will post -0.13 earnings per share for the current year.

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.