Robert W. Pittman Buys 200,000 Shares of iHeartMedia, Inc. (NASDAQ:IHRT) Stock

iHeartMedia, Inc. (NASDAQ:IHRT - Get Free Report) CEO Robert W. Pittman acquired 200,000 shares of iHeartMedia stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $1.60 per share, with a total value of $320,000.00. Following the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

iHeartMedia Trading Down 1.6 %

Shares of iHeartMedia stock traded down $0.03 during trading hours on Friday, hitting $1.83. 1,182,671 shares of the company were exchanged, compared to its average volume of 790,695. The business has a 50-day moving average of $2.13 and a 200-day moving average of $2.03. The stock has a market capitalization of $269.15 million, a price-to-earnings ratio of -0.27 and a beta of 1.78. iHeartMedia, Inc. has a 1 year low of $0.81 and a 1 year high of $2.84.

Wall Street Analysts Forecast Growth

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

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in iHeartMedia in the fourth quarter worth $33,000. FMR LLC raised its position in iHeartMedia by 25.2% in the third quarter. FMR LLC now owns 22,879 shares of the company's stock worth $42,000 after acquiring an additional 4,598 shares in the last quarter. Intech Investment Management LLC purchased a new position in iHeartMedia in the third quarter worth $45,000. State of Wyoming purchased a new position in iHeartMedia in the fourth quarter worth $49,000. Finally, Algert Global LLC purchased a new position in iHeartMedia in the fourth quarter worth $50,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

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.