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

iHeartMedia, Inc. (NASDAQ:IHRT) insider Richard J. Bressler bought 100,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $1.79 per share, for a total transaction of $179,000.00. Following the completion of the purchase, the insider now owns 3,617,764 shares in the company, 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 SEC, which is available at this link.

iHeartMedia Stock Down 5.5 %

Shares of iHeartMedia stock opened at $1.55 on Thursday. iHeartMedia, Inc. has a twelve month low of $0.81 and a twelve month high of $2.84. The company’s 50 day moving average is $2.11 and its 200 day moving average is $2.02. The company has a market cap of $228.13 million, a price-to-earnings ratio of -0.23 and a beta of 1.78.

Analyst Upgrades and Downgrades

Separately, Guggenheim lowered their price target on iHeartMedia from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Monday.

Hedge Funds Weigh In On iHeartMedia

Several hedge funds and other institutional investors have recently modified their holdings of IHRT. Deutsche Bank AG grew its holdings in shares of iHeartMedia by 25.9% in the fourth quarter. Deutsche Bank AG now owns 3,830,745 shares of the company’s stock worth $7,585,000 after acquiring an additional 789,170 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in iHeartMedia by 20.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,000,000 shares of the company’s stock worth $5,940,000 after purchasing an additional 500,000 shares during the last quarter. Helix Partners Management LP bought a new stake in shares of iHeartMedia during the 4th quarter valued at about $911,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of iHeartMedia during the 4th quarter valued at about $870,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of iHeartMedia by 21.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock worth $4,949,000 after purchasing an additional 436,656 shares during the period. 93.89% of the stock is owned by institutional investors.

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.