Alpha Paradigm Partners LLC Buys Shares of 59,400 iHeartMedia, Inc. (NASDAQ:IHRT)

Alpha Paradigm Partners LLC purchased a new position in shares of iHeartMedia, Inc. (NASDAQ:IHRT – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 59,400 shares of the company’s stock, valued at approximately $435,000.

Several other institutional investors have also modified their holdings of IHRT. Nisa Investment Advisors LLC grew its position in iHeartMedia by 58.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,164 shares of the company’s stock valued at $59,000 after buying an additional 2,654 shares in the last quarter. Watershed Asset Management L.L.C. bought a new position in iHeartMedia in the 3rd quarter valued at about $65,000. Lazard Asset Management LLC bought a new position in iHeartMedia in the 2nd quarter valued at about $74,000. Fox Run Management L.L.C. bought a new position in iHeartMedia in the 3rd quarter valued at about $74,000. Finally, Great West Life Assurance Co. Can grew its position in iHeartMedia by 19.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 10,175 shares of the company’s stock valued at $204,000 after buying an additional 1,676 shares in the last quarter. Institutional investors own 72.30% of the company’s stock.

Insider Buying and Selling

In other news, insider Richard J. Bressler acquired 94,518 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The shares were purchased at an average price of $5.53 per share, for a total transaction of $522,684.54. Following the completion of the acquisition, the insider now owns 1,606,178 shares of the company’s stock, valued at approximately $8,882,164.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Richard J. Bressler acquired 94,518 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The shares were purchased at an average price of $5.53 per share, for a total transaction of $522,684.54. Following the completion of the acquisition, the insider now owns 1,606,178 shares of the company’s stock, valued at approximately $8,882,164.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael B. Mcguinness acquired 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The stock was purchased at an average price of $5.45 per share, for a total transaction of $95,375.00. Following the acquisition, the chief financial officer now directly owns 138,535 shares of the company’s stock, valued at approximately $755,015.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 122,018 shares of company stock worth $668,060. Insiders own 2.90% of the company’s stock.

iHeartMedia Trading Down 0.2 %

NASDAQ:IHRT opened at $4.72 on Wednesday. The stock’s 50 day moving average price is $7.01 and its 200 day moving average price is $7.69. iHeartMedia, Inc. has a 52 week low of $4.38 and a 52 week high of $20.48. The company has a market capitalization of $676.16 million, a P/E ratio of -2.65 and a beta of 1.74. The company has a debt-to-equity ratio of 7.91, a quick ratio of 1.77 and a current ratio of 1.77.

Wall Street Analyst Weigh In

IHRT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of iHeartMedia from a “neutral” rating to an “underweight” rating and cut their price target for the company from $10.00 to $5.00 in a report on Wednesday, March 1st. Barrington Research lowered shares of iHeartMedia from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 1st. Wells Fargo & Company reduced their price objective on shares of iHeartMedia from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 1st. Finally, B. Riley reduced their price target on shares of iHeartMedia from $22.00 to $16.00 in a research report on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.86.

About iHeartMedia

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iHeartMedia, Inc operates as a media and entertainment company worldwide. 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 live and virtual events; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,400 radio station affiliates.