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SAN ANTONIO—Robert W. Pittman, Chairman and CEO of iHeartMedia, Inc. (NASDAQ:IHRT), recently acquired 200,000 shares of the company’s Class A Common Stock, according to a recent SEC filing. The purchase, made on March 4, 2025, was executed at a weighted average price of $1.6002 per share, totaling approximately $320,040. The timing is notable as InvestingPro data shows the stock has declined nearly 28% in the past week, with technical indicators suggesting oversold conditions.
This acquisition increases Pittman’s direct ownership to 4,241,389 shares. Additionally, Pittman indirectly holds 21,732 shares through Pittman CC, LLC, a limited liability company he controls. The transaction reflects Pittman’s continued investment in iHeartMedia as the company navigates the evolving media landscape. According to InvestingPro analysis, the company operates with a significant debt burden, though its current ratio of 1.56 indicates sufficient liquidity to meet short-term obligations. Subscribers to InvestingPro can access 8 additional key insights and a comprehensive Pro Research Report for deeper analysis of IHRT’s financial health and market position.
In other recent news, iHeartMedia reported a 4.8% increase in consolidated revenues for Q4 2024, reaching $1.12 billion, which fell short of the $1.17 billion forecast. The company’s adjusted EBITDA rose by 18.2%, indicating operational efficiency, while digital and podcast revenues also showed notable growth. Despite these positive financial metrics, iHeartMedia projects flat revenue growth for 2025, which has stirred some caution among investors. The company also announced that Executive Vice President and Chief Legal Officer Jordan R. Fasbender will resign effective around April 1, 2025, as she takes on a new role outside the company. iHeartMedia has begun the search for Fasbender’s successor to ensure a smooth transition. Additionally, the company achieved its lowest net debt position to date, enhancing its financial stability. Analysts have not provided specific upgrades or downgrades for iHeartMedia, but the firm remains a key player in the evolving media landscape. These developments reflect iHeartMedia’s ongoing efforts to maintain its leadership in the radio broadcasting and digital audio sectors.
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