Intech Investment Management LLC Acquires 23,977 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

Intech Investment Management LLC increased its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 99.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,178 shares of the company’s stock after purchasing an additional 23,977 shares during the period. Intech Investment Management LLC’s holdings in iHeartMedia were worth $95,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IHRT. Geode Capital Management LLC boosted its position in iHeartMedia by 5.8% during the third quarter. Geode Capital Management LLC now owns 2,515,516 shares of the company’s stock valued at $4,655,000 after buying an additional 137,896 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of iHeartMedia by 3.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,062,753 shares of the company’s stock valued at $3,816,000 after acquiring an additional 71,921 shares during the last quarter. Barclays PLC boosted its holdings in iHeartMedia by 513.4% during the 3rd quarter. Barclays PLC now owns 362,060 shares of the company’s stock valued at $670,000 after acquiring an additional 303,034 shares during the period. XTX Topco Ltd grew its position in iHeartMedia by 43.3% during the 3rd quarter. XTX Topco Ltd now owns 90,943 shares of the company’s stock worth $168,000 after acquiring an additional 27,486 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in iHeartMedia in the 3rd quarter worth approximately $112,000. Institutional investors own 93.89% of the company’s stock.

iHeartMedia Price Performance

NASDAQ IHRT opened at $1.76 on Friday. iHeartMedia, Inc. has a 1 year low of $0.81 and a 1 year high of $2.84. The stock has a market capitalization of $259.04 million, a PE ratio of -0.26 and a beta of 1.78. The business’s 50-day moving average is $2.03 and its 200 day moving average is $2.03.

Insider Activity

In related news, insider Richard J. Bressler bought 100,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $1.79 per share, with a total value of $179,000.00. Following the purchase, the insider now owns 3,617,764 shares of the company’s stock, valued at approximately $6,475,797.56. This trade represents a 2.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert W. Pittman purchased 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $1.60 per share, with a total value of $320,000.00. Following the completion of the purchase, the chief executive officer now owns 4,241,389 shares of the company’s stock, 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. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

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

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.