Insider Buying: iHeartMedia, Inc. (NASDAQ:IHRT) Insider Purchases 100,000 Shares of Stock

iHeartMedia, Inc. (NASDAQ:IHRT - Get Free Report) insider Richard J. Bressler acquired 100,000 shares of iHeartMedia stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $1.79 per share, for a total transaction of $179,000.00. Following the completion of the transaction, the insider now directly owns 3,617,764 shares in the company, valued at $6,475,797.56. This trade represents a 2.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

iHeartMedia Price Performance

Shares of NASDAQ:IHRT remained flat at $1.55 during trading on Thursday. 916,732 shares of the stock were exchanged, compared to its average volume of 798,090. The business's 50-day simple moving average is $2.11 and its two-hundred day simple moving average is $2.02. iHeartMedia, Inc. has a fifty-two week low of $0.81 and a fifty-two week high of $2.84. The company has a market capitalization of $228.13 million, a price-to-earnings ratio of -0.23 and a beta of 1.78.

Institutional Investors Weigh In On iHeartMedia

Several hedge funds have recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of iHeartMedia by 513.4% in the third quarter. Barclays PLC now owns 362,060 shares of the company's stock valued at $670,000 after acquiring an additional 303,034 shares in the last quarter. JPMorgan Chase & Co. increased its position in iHeartMedia by 3.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,062,753 shares of the company's stock valued at $3,816,000 after purchasing an additional 71,921 shares during the period. GSA Capital Partners LLP increased its position in iHeartMedia by 19.2% during the 3rd quarter. GSA Capital Partners LLP now owns 485,096 shares of the company's stock valued at $897,000 after purchasing an additional 78,177 shares during the period. SG Americas Securities LLC raised its holdings in shares of iHeartMedia by 26.6% in the 4th quarter. SG Americas Securities LLC now owns 45,648 shares of the company's stock valued at $90,000 after purchasing an additional 9,592 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position 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 purchasing an additional 137,896 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Separately, Guggenheim reduced their target price on iHeartMedia from $5.00 to $4.50 and set a "buy" rating on the stock in a research note on Monday.

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.