291,784 Shares in iHeartMedia, Inc. (NASDAQ:IHRT) Acquired by Prudential Financial Inc.

Prudential Financial Inc. acquired a new stake in iHeartMedia, Inc. (NASDAQ:IHRT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 291,784 shares of the company's stock, valued at approximately $578,000. Prudential Financial Inc. owned approximately 0.20% of iHeartMedia as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its stake in iHeartMedia by 25.2% during the third quarter. FMR LLC now owns 22,879 shares of the company's stock worth $42,000 after buying an additional 4,598 shares in the last quarter. SG Americas Securities LLC increased its holdings in iHeartMedia by 26.6% during 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. Virtu Financial LLC lifted its position in iHeartMedia by 93.3% during the 4th quarter. Virtu Financial LLC now owns 30,010 shares of the company's stock worth $59,000 after buying an additional 14,485 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of iHeartMedia by 99.1% during the fourth quarter. Intech Investment Management LLC now owns 48,178 shares of the company's stock valued at $95,000 after purchasing an additional 23,977 shares during the last quarter. Finally, XTX Topco Ltd increased its stake in shares of iHeartMedia by 43.3% in the 3rd quarter. XTX Topco Ltd now owns 90,943 shares of the company's stock valued at $168,000 after buying an additional 27,486 shares during the period. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

iHeartMedia Trading Down 0.9 %

Shares of IHRT stock traded down $0.01 on Friday, hitting $1.15. The stock had a trading volume of 534,272 shares, compared to its average volume of 933,579. The firm has a market cap of $169.26 million, a P/E ratio of -0.17 and a beta of 1.48. iHeartMedia, Inc. has a twelve month low of $0.81 and a twelve month high of $2.84. The company has a fifty day moving average price of $1.76 and a two-hundred day moving average price of $2.00.

Insider Buying and Selling

In related news, CEO Robert W. Pittman bought 200,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $1.60 per share, with a total value 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 $6,786,222.40. The trade was a 4.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard J. Bressler acquired 100,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $1.79 per share, with a total value of $179,000.00. Following the acquisition, the insider now owns 3,617,764 shares in the company, valued at $6,475,797.56. The trade was a 2.84 % increase in their position. The disclosure for this purchase can be found here. 6.30% of the stock is currently owned by corporate insiders.

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.