460,000 Shares in iHeartMedia, Inc. (NASDAQ:IHRT) Purchased by Helix Partners Management LP

Helix Partners Management LP purchased a new stake in iHeartMedia, Inc. (NASDAQ:IHRT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 460,000 shares of the company's stock, valued at approximately $911,000. iHeartMedia accounts for about 0.2% of Helix Partners Management LP's holdings, making the stock its 13th biggest position. Helix Partners Management LP owned 0.31% of iHeartMedia as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IHRT. Intech Investment Management LLC bought a new stake in iHeartMedia during the third quarter worth about $45,000. The Manufacturers Life Insurance Company bought a new stake in shares of iHeartMedia during the third quarter worth approximately $78,000. FMR LLC raised its position in shares of iHeartMedia by 25.2% during the 3rd quarter. FMR LLC now owns 22,879 shares of the company's stock valued at $42,000 after acquiring an additional 4,598 shares during the last quarter. MetLife Investment Management LLC bought a new stake in iHeartMedia in the third quarter valued at about $112,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of iHeartMedia in the 3rd quarter valued at approximately $56,000. Institutional investors own 93.89% of the company's stock.

Insider Transactions at iHeartMedia

In other news, insider Richard J. Bressler acquired 100,000 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly 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 accessible through this hyperlink. Also, CEO Robert W. Pittman acquired 200,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $1.60 per share, for a total transaction of $320,000.00. Following the purchase, the chief executive officer now directly owns 4,241,389 shares of the company's stock, valued at approximately $6,786,222.40. This trade represents a 4.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.30% of the stock is currently owned by insiders.

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iHeartMedia Stock Performance

iHeartMedia stock traded down $0.07 during midday trading on Tuesday, reaching $1.14. The stock had a trading volume of 416,781 shares, compared to its average volume of 810,819. iHeartMedia, Inc. has a 1-year low of $0.81 and a 1-year high of $2.84. The firm's fifty day simple moving average is $1.90 and its 200-day simple moving average is $2.02. The stock has a market capitalization of $167.05 million, a P/E ratio of -0.17 and a beta of 1.48.

Wall Street Analysts Forecast Growth

Separately, Guggenheim dropped their price objective on iHeartMedia from $5.00 to $4.50 and set a "buy" rating on the stock in a research note on Monday, March 10th.

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.