Wolverine Asset Management LLC Has $1.48 Million Stock Position in iHeartMedia, Inc. (NASDAQ:IHRT)

Wolverine Asset Management LLC increased its position in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 29.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 552,339 shares of the company’s stock after purchasing an additional 124,357 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.38% of iHeartMedia worth $1,475,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IHRT. Bridgecreek Investment Management LLC acquired a new stake in iHeartMedia in the 3rd quarter valued at about $32,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of iHeartMedia in the third quarter valued at approximately $42,000. Principal Financial Group Inc. increased its holdings in shares of iHeartMedia by 39.4% in the third quarter. Principal Financial Group Inc. now owns 15,207 shares of the company’s stock valued at $48,000 after purchasing an additional 4,301 shares in the last quarter. Barclays PLC increased its holdings in shares of iHeartMedia by 679.1% in the second quarter. Barclays PLC now owns 17,568 shares of the company’s stock valued at $64,000 after purchasing an additional 15,313 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of iHeartMedia by 37.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,765 shares of the company’s stock valued at $77,000 after purchasing an additional 7,882 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Guggenheim lowered their target price on 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 assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, iHeartMedia has an average rating of “Hold” and a consensus price target of $4.07.

iHeartMedia Trading Down 0.5 %

NASDAQ IHRT opened at $2.11 on Thursday. iHeartMedia, Inc. has a 12 month low of $1.77 and a 12 month high of $4.74. The stock has a 50-day simple moving average of $2.17 and a 200 day simple moving average of $2.39.

iHeartMedia (NASDAQ:IHRT) last announced its quarterly 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. iHeartMedia had a negative net margin of 29.40% and a negative return on equity of 1,197.12%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company posted $0.54 EPS. As a group, equities analysts predict that iHeartMedia, Inc. will post 0.05 earnings per share for the current year.

About iHeartMedia

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.