JPMorgan Chase & Co. lifted its holdings in shares of iHeartMedia, Inc. (NASDAQ:IHRT - Free Report) by 21.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,499,409 shares of the company's stock after purchasing an additional 436,656 shares during the quarter. JPMorgan Chase & Co. owned 1.70% of iHeartMedia worth $4,949,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Barclays PLC increased 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 worth $670,000 after buying an additional 303,034 shares during the period. Prudential Financial Inc. purchased a new position in shares of iHeartMedia in the 4th quarter worth about $578,000. Geode Capital Management LLC lifted its stake in shares of iHeartMedia by 5.8% in the third quarter. Geode Capital Management LLC now owns 2,515,516 shares of the company's stock worth $4,655,000 after buying an additional 137,896 shares in the last quarter. SG Americas Securities LLC increased its position in shares of iHeartMedia by 26.6% during the fourth quarter. SG Americas Securities LLC now owns 45,648 shares of the company's stock valued at $90,000 after acquiring an additional 9,592 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position 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 buying an additional 23,977 shares during the last quarter. Institutional investors own 93.89% of the company's stock.
Insider Buying and Selling
In other iHeartMedia news, insider Richard J. Bressler acquired 100,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $1.79 per share, for a total transaction of $179,000.00. Following the purchase, the insider now owns 3,617,764 shares in the company, valued at $6,475,797.56. This represents a 2.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert W. Pittman purchased 200,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $1.60 per share, with a total value of $320,000.00. Following the transaction, the chief executive officer now directly owns 4,241,389 shares of the company's stock, valued at approximately $6,786,222.40. This represents a 4.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 6.30% of the company's stock.
Analyst Ratings Changes
Separately, Guggenheim dropped their price objective on shares of iHeartMedia from $5.00 to $4.50 and set a "buy" rating on the stock in a report on Monday, March 10th.
Read Our Latest Stock Report on iHeartMedia
iHeartMedia Trading Down 3.3 %
iHeartMedia stock traded down $0.04 during trading on Thursday, hitting $1.03. The company had a trading volume of 124,746 shares, compared to its average volume of 935,375. iHeartMedia, Inc. has a 1-year low of $0.81 and a 1-year high of $2.84. The company's 50 day simple moving average is $1.57 and its 200-day simple moving average is $1.95. The stock has a market cap of $150.86 million, a price-to-earnings ratio of -0.15 and a beta of 1.48.
iHeartMedia Profile
(
Free Report)
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.
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