iHeartMedia, Inc. (NASDAQ:IHRT) Position Raised by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC increased its stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT - Free Report) by 20.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,000,000 shares of the company's stock after purchasing an additional 500,000 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 2.04% of iHeartMedia worth $5,940,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mariner LLC raised its holdings in shares of iHeartMedia by 4.5% in the fourth quarter. Mariner LLC now owns 122,374 shares of the company's stock valued at $242,000 after buying an additional 5,269 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of iHeartMedia by 26.6% in 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. Virtu Financial LLC increased its stake in shares of iHeartMedia by 93.3% during the fourth quarter. Virtu Financial LLC now owns 30,010 shares of the company's stock worth $59,000 after acquiring an additional 14,485 shares during the period. Intech Investment Management LLC raised its holdings in iHeartMedia by 99.1% during the fourth quarter. Intech Investment Management LLC now owns 48,178 shares of the company's stock worth $95,000 after purchasing an additional 23,977 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in iHeartMedia by 136.2% in the fourth quarter. Marshall Wace LLP now owns 43,721 shares of the company's stock valued at $87,000 after purchasing an additional 25,209 shares during the period. Institutional investors and hedge funds own 93.89% of the company's stock.

Insider Activity at iHeartMedia

In other iHeartMedia news, insider Richard J. Bressler bought 100,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $1.79 per share, with a total value of $179,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert W. Pittman bought 200,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $1.60 per share, for a total transaction 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. This represents a 4.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

iHeartMedia Stock Performance

IHRT remained flat at $1.06 on Friday. 448,014 shares of the company were exchanged, compared to its average volume of 937,511. iHeartMedia, Inc. has a 12-month low of $0.81 and a 12-month high of $2.84. The company's fifty day simple moving average is $1.41 and its 200 day simple moving average is $1.91. The company has a market capitalization of $156.01 million, a P/E ratio of -0.16 and a beta of 1.48.

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.