Barclays PLC Raises Position in iHeartMedia, Inc. (NASDAQ:IHRT)

Barclays PLC lifted its position in iHeartMedia, Inc. (NASDAQ:IHRT - Free Report) by 513.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 362,060 shares of the company's stock after buying an additional 303,034 shares during the quarter. Barclays PLC owned approximately 0.25% of iHeartMedia worth $670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IHRT. Bank of New York Mellon Corp grew its stake in shares of iHeartMedia by 10.3% in the second quarter. Bank of New York Mellon Corp now owns 403,283 shares of the company's stock worth $440,000 after acquiring an additional 37,656 shares in the last quarter. Rhumbline Advisers grew its holdings in iHeartMedia by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 184,290 shares of the company's stock worth $201,000 after acquiring an additional 7,258 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of iHeartMedia by 644.6% in the 2nd quarter. Renaissance Technologies LLC now owns 166,800 shares of the company's stock valued at $182,000 after purchasing an additional 144,400 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of iHeartMedia by 111.4% in the 2nd quarter. Hsbc Holdings PLC now owns 156,842 shares of the company's stock valued at $176,000 after purchasing an additional 82,641 shares in the last quarter. Finally, Aristeia Capital L.L.C. acquired a new stake in shares of iHeartMedia in the 2nd quarter valued at $2,461,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Insider Buying and Selling

In other news, Director James A. Rasulo sold 40,223 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $2.40, for a total value of $96,535.20. Following the completion of the sale, the director now directly owns 339,322 shares of the company's stock, valued at approximately $814,372.80. This represents a 10.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by company insiders.

iHeartMedia Stock Performance

Shares of IHRT stock traded up $0.12 during mid-day trading on Friday, hitting $2.33. 827,656 shares of the stock were exchanged, compared to its average volume of 697,069. The stock's fifty day simple moving average is $2.20 and its two-hundred day simple moving average is $1.82. iHeartMedia, Inc. has a 12-month low of $0.81 and a 12-month high of $3.04. The stock has a market capitalization of $342.68 million, a price-to-earnings ratio of -0.34 and a beta of 1.72.

Analysts Set New Price Targets

Several research firms recently commented on IHRT. Barrington Research raised iHeartMedia to a "hold" rating in a report on Tuesday, November 12th. Bank of America upgraded iHeartMedia from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $1.00 to $3.00 in a report on Tuesday, November 12th. Finally, Guggenheim raised their target price on iHeartMedia from $3.00 to $5.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th.

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.