Charles Schwab Investment Management Inc. Sells 890,499 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

Charles Schwab Investment Management Inc. lowered its stake in iHeartMedia, Inc. (NASDAQ:IHRT - Free Report) by 32.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,845,437 shares of the company's stock after selling 890,499 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.25% of iHeartMedia worth $3,654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of iHeartMedia by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,515,516 shares of the company's stock worth $4,655,000 after acquiring an additional 137,896 shares during the period. JPMorgan Chase & Co. raised its holdings in iHeartMedia by 3.6% during the third quarter. JPMorgan Chase & Co. now owns 2,062,753 shares of the company's stock worth $3,816,000 after purchasing an additional 71,921 shares in the last quarter. Barclays PLC lifted its position in iHeartMedia by 513.4% in the third quarter. Barclays PLC now owns 362,060 shares of the company's stock worth $670,000 after purchasing an additional 303,034 shares during the period. XTX Topco Ltd boosted its stake in iHeartMedia by 43.3% during the 3rd quarter. XTX Topco Ltd now owns 90,943 shares of the company's stock valued at $168,000 after purchasing an additional 27,486 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new position in shares of iHeartMedia during the 3rd quarter valued at $112,000. Institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

Separately, Guggenheim cut their price objective on iHeartMedia from $5.00 to $4.50 and set a "buy" rating for the company in a report on Monday, March 10th.

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Insider Buying and Selling at iHeartMedia

In other news, insider Richard J. Bressler bought 100,000 shares of the stock in a transaction on Friday, March 7th. The shares were purchased 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 directly owns 3,617,764 shares of the company's stock, valued at $6,475,797.56. This trade represents a 2.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert W. Pittman bought 200,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $1.60 per share, for a total transaction of $320,000.00. Following the completion of the transaction, the chief executive officer now owns 4,241,389 shares in the company, valued at approximately $6,786,222.40. The trade was a 4.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 6.30% of the company's stock.

iHeartMedia Price Performance

NASDAQ IHRT traded down $0.12 on Friday, hitting $1.64. 516,309 shares of the company were exchanged, compared to its average volume of 930,036. iHeartMedia, Inc. has a twelve month low of $0.81 and a twelve month high of $2.84. The firm has a market capitalization of $241.37 million, a P/E ratio of -0.24 and a beta of 1.78. The company's 50 day moving average price is $2.02 and its 200-day moving average price is $2.03.

About iHeartMedia

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.