Intech Investment Management LLC Raises Stake in iHeartMedia, Inc. (NASDAQ:IHRT)

Intech Investment Management LLC increased its holdings in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 99.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,178 shares of the company’s stock after acquiring an additional 23,977 shares during the period. Intech Investment Management LLC’s holdings in iHeartMedia were worth $95,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC boosted its position in shares of iHeartMedia by 513.4% in the 3rd quarter. Barclays PLC now owns 362,060 shares of the company’s stock worth $670,000 after purchasing an additional 303,034 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in iHeartMedia by 3.6% in the third quarter. JPMorgan Chase & Co. now owns 2,062,753 shares of the company’s stock worth $3,816,000 after acquiring an additional 71,921 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of iHeartMedia by 26.6% in the fourth quarter. SG Americas Securities LLC now owns 45,648 shares of the company’s stock worth $90,000 after acquiring an additional 9,592 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of iHeartMedia by 5.8% during the third quarter. Geode Capital Management LLC now owns 2,515,516 shares of the company’s stock valued at $4,655,000 after acquiring an additional 137,896 shares in the last quarter. Finally, XTX Topco Ltd raised its position in shares of iHeartMedia by 43.3% in the 3rd quarter. XTX Topco Ltd now owns 90,943 shares of the company’s stock worth $168,000 after purchasing an additional 27,486 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

iHeartMedia Stock Performance

IHRT opened at $1.76 on Friday. The company’s 50-day simple moving average is $2.03 and its two-hundred day simple moving average is $2.03. The stock has a market capitalization of $259.04 million, a P/E ratio of -0.26 and a beta of 1.78. iHeartMedia, Inc. has a 52-week low of $0.81 and a 52-week high of $2.84.

Analysts Set New Price Targets

Separately, Guggenheim cut their price objective on shares of iHeartMedia from $5.00 to $4.50 and set a “buy” rating on the stock in a research report on Monday, March 10th.

Insider Activity

In other news, insider Richard J. Bressler acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $1.79 per share, with a total value of $179,000.00. Following the completion of the acquisition, the insider now directly owns 3,617,764 shares of the company’s stock, valued at approximately $6,475,797.56. The trade was a 2.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert W. Pittman acquired 200,000 shares of iHeartMedia stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $1.60 per share, with a total value of $320,000.00. Following the transaction, the chief executive officer now owns 4,241,389 shares of the company’s stock, valued at $6,786,222.40. The trade was a 4.95 % increase in their position. The disclosure for this purchase can be found here. 6.30% of the stock is owned by corporate insiders.

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.