Allianz Asset Management GmbH Has $44.48 Million Stock Position in iHeartMedia, Inc. (NASDAQ:IHRT)

Allianz Asset Management GmbH decreased its stake in iHeartMedia, Inc. (NASDAQ:IHRT) by 0.1% during the 4th quarter, HoldingsChannel reports. The fund owned 22,464,342 shares of the company’s stock after selling 21,277 shares during the period. Allianz Asset Management GmbH owned about 0.15% of iHeartMedia worth $44,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of IHRT. GSA Capital Partners LLP grew its stake in shares of iHeartMedia by 19.2% in the third quarter. GSA Capital Partners LLP now owns 485,096 shares of the company’s stock worth $897,000 after acquiring an additional 78,177 shares during the last quarter. Intech Investment Management LLC acquired a new stake in iHeartMedia during the third quarter worth $45,000. The Manufacturers Life Insurance Company acquired a new stake in iHeartMedia during the third quarter worth $78,000. FMR LLC boosted its stake in iHeartMedia by 25.2% during the third quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after buying an additional 4,598 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in iHeartMedia during the third quarter worth $112,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IHRT. Barrington Research upgraded shares of iHeartMedia to a “hold” rating in a research note on Tuesday, November 12th. Bank of America upgraded shares of iHeartMedia from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $1.00 to $3.00 in a research note on Tuesday, November 12th. Finally, Guggenheim lifted their price target on shares of iHeartMedia from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th.

iHeartMedia Stock Performance

Shares of NASDAQ IHRT opened at $2.11 on Friday. The stock has a market cap of $310.32 million, a PE ratio of -0.31 and a beta of 1.73. The business has a fifty day moving average of $2.15 and a two-hundred day moving average of $1.99. iHeartMedia, Inc. has a 52-week low of $0.81 and a 52-week high of $3.04.

iHeartMedia 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.