Geode Capital Management LLC Buys 51,219 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

Geode Capital Management LLC increased its position in iHeartMedia, Inc. (NASDAQ:IHRT) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,566,735 shares of the company’s stock after purchasing an additional 51,219 shares during the period. Geode Capital Management LLC owned approximately 1.75% of iHeartMedia worth $5,083,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC lifted its stake in shares of iHeartMedia by 93.3% in the fourth 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. SG Americas Securities LLC raised its holdings in iHeartMedia by 26.6% in the 4th quarter. SG Americas Securities LLC now owns 45,648 shares of the company’s stock worth $90,000 after acquiring an additional 9,592 shares during the last quarter. Intech Investment Management LLC lifted its position in iHeartMedia by 99.1% in the 4th quarter. Intech Investment Management LLC now owns 48,178 shares of the company’s stock valued at $95,000 after acquiring an additional 23,977 shares in the last quarter. Sei Investments Co. purchased a new stake in iHeartMedia during the 4th quarter valued at $178,000. Finally, EntryPoint Capital LLC bought a new stake in shares of iHeartMedia in the 4th quarter worth $199,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at iHeartMedia

In other iHeartMedia news, insider Richard J. Bressler acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $1.79 per share, with a total value of $179,000.00. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert W. Pittman bought 200,000 shares of iHeartMedia stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $1.60 per share, with a total value of $320,000.00. Following the completion of the acquisition, the chief executive officer now owns 4,241,389 shares of the company’s stock, valued at $6,786,222.40. The trade was a 4.95 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.30% of the company’s stock.

iHeartMedia Stock Performance

Shares of IHRT stock opened at $1.02 on Friday. iHeartMedia, Inc. has a 12-month low of $0.81 and a 12-month high of $2.84. The stock has a market capitalization of $150.12 million, a P/E ratio of -0.15 and a beta of 1.48. The firm’s 50 day moving average is $1.52 and its 200 day moving average is $1.94.

Analyst Upgrades and Downgrades

Separately, Guggenheim lowered their price target on iHeartMedia from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Monday, March 10th.

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.