iHeartMedia, Inc. (NASDAQ:IHRT) Insider Buys $179,000.00 in Stock

iHeartMedia, Inc. (NASDAQ:IHRT) insider Richard J. Bressler acquired 100,000 shares of iHeartMedia stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $1.79 per share, for a total transaction of $179,000.00. Following the completion of the transaction, the insider now directly owns 3,617,764 shares in the company, valued at $6,475,797.56. This trade represents a 2.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

iHeartMedia Stock Performance

Shares of NASDAQ:IHRT opened at $1.65 on Tuesday. The firm’s 50 day simple moving average is $2.13 and its 200-day simple moving average is $2.03. iHeartMedia, Inc. has a one year low of $0.81 and a one year high of $2.84. The firm has a market cap of $242.11 million, a PE ratio of -0.24 and a beta of 1.78.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG lifted its holdings in shares of iHeartMedia by 25.9% in the 4th quarter. Deutsche Bank AG now owns 3,830,745 shares of the company’s stock worth $7,585,000 after buying an additional 789,170 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in shares of iHeartMedia by 20.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,000,000 shares of the company’s stock valued at $5,940,000 after acquiring an additional 500,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in iHeartMedia by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,566,735 shares of the company’s stock worth $5,083,000 after acquiring an additional 51,219 shares during the period. JPMorgan Chase & Co. grew its holdings in iHeartMedia by 21.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock worth $4,949,000 after acquiring an additional 436,656 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in iHeartMedia by 17.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,595,198 shares of the company’s stock valued at $3,158,000 after purchasing an additional 231,481 shares during the period. Institutional investors own 93.89% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Guggenheim cut their target price on iHeartMedia from $5.00 to $4.50 and set a “buy” rating on the stock in a research note on Monday. Bank of America upgraded iHeartMedia from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $1.00 to $3.00 in a research note on Tuesday, November 12th. Finally, Barrington Research upgraded iHeartMedia to a “hold” rating in a research report on Tuesday, November 12th.

iHeartMedia Company 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.