Douglas Lane & Associates Discloses 7.76M Share Stake in iHeartMedia
Ticker: IHETW · Form: SC 13G · Filed: Jan 9, 2024 · CIK: 1400891
| Field | Detail |
|---|---|
| Company | Iheartmedia, Inc. (IHETW) |
| Form Type | SC 13G |
| Filed Date | Jan 9, 2024 |
| Risk Level | medium |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, form-13G
TL;DR
**Douglas Lane & Associates just revealed a massive 7.76 million share position in iHeartMedia as of Q3 2023.**
AI Summary
Douglas Lane & Associates, LLC, a Delaware-based investment advisor, reported beneficial ownership of 7,759,971 shares of iHeartMedia, Inc. common stock as of September 30, 2023. This represents a significant stake, with the firm holding sole voting power over 265,000 shares and sole dispositive power over all 7,759,971 shares. This matters to iHeartMedia shareholders because it indicates a substantial institutional investment, potentially signaling confidence in the company's future, but also means a large block of shares is controlled by a single entity.
Why It Matters
A large institutional holding by Douglas Lane & Associates, LLC could influence iHeartMedia's stock performance and corporate governance, as they control a significant portion of the company's shares.
Risk Assessment
Risk Level: medium — While a large institutional holder can provide stability, a significant sale by Douglas Lane & Associates could put downward pressure on iHeartMedia's stock price.
Analyst Insight
Investors should monitor future filings from Douglas Lane & Associates, LLC for any changes in their iHeartMedia, Inc. holdings, as significant buying or selling could impact the stock price.
Key Numbers
- 7,759,971 — Shares with Sole Dispositive Power (Represents the total number of iHeartMedia shares Douglas Lane & Associates, LLC can sell.)
- 265,000 — Shares with Sole Voting Power (Indicates the number of iHeartMedia shares Douglas Lane & Associates, LLC can vote on corporate matters.)
Key Players & Entities
- Douglas Lane & Associates, LLC (company) — the reporting person and investment advisor
- iHeartMedia, Inc. (company) — the issuer of the securities
- Delaware (person) — place of organization for Douglas Lane & Associates, LLC
- September 30, 2023 (person) — date of event requiring the filing
- 7,759,971 (dollar_amount) — sole dispositive power shares
- 265,000 (dollar_amount) — sole voting power shares
Forward-Looking Statements
- Douglas Lane & Associates, LLC will maintain a significant stake in iHeartMedia, Inc. for the foreseeable future. (Douglas Lane & Associates, LLC) — medium confidence, target: Q4 2024
FAQ
Who filed this SC 13G statement?
Douglas Lane & Associates, LLC, a company organized in Delaware, filed this SC 13G statement.
What company's securities are the subject of this filing?
The subject company is iHeartMedia, Inc., with the title of class of securities being Common stock and CUSIP number 45174J509.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was September 30, 2023.
How many shares does Douglas Lane & Associates, LLC have sole dispositive power over?
Douglas Lane & Associates, LLC has sole dispositive power over 7,759,971 shares of iHeartMedia, Inc. common stock.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the checked box [X] Rule 13d-1(b).
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 9, 2024 by Delaware regarding iHeartMedia, Inc. (IHETW).