iHeartMedia, Inc. (NASDAQ:IHRT) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 47.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 377,600 shares of the company’s stock after acquiring an additional 121,300 shares during the quarter. Renaissance Technologies LLC owned about 0.26% of iHeartMedia worth $748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of IHRT. Geode Capital Management LLC raised its holdings in shares of iHeartMedia by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,566,735 shares of the company’s stock worth $5,083,000 after purchasing an additional 51,219 shares in the last quarter. JPMorgan Chase & Co. grew its position in iHeartMedia by 21.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock worth $4,949,000 after buying an additional 436,656 shares during the last quarter. Invesco Ltd. increased its holdings in shares of iHeartMedia by 6.1% in the fourth quarter. Invesco Ltd. now owns 685,069 shares of the company’s stock valued at $1,356,000 after buying an additional 39,425 shares in the last quarter. Helix Partners Management LP acquired a new stake in shares of iHeartMedia during the 4th quarter valued at $911,000. Finally, Barclays PLC boosted its stake in shares of iHeartMedia by 513.4% during the 3rd quarter. Barclays PLC now owns 362,060 shares of the company’s stock worth $670,000 after acquiring an additional 303,034 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

iHeartMedia Stock Performance

Shares of NASDAQ:IHRT opened at $1.06 on Friday. iHeartMedia, Inc. has a 52 week low of $0.81 and a 52 week high of $2.84. The company has a market cap of $156.01 million, a PE ratio of -0.16 and a beta of 1.48. The firm has a 50 day simple moving average of $1.43 and a 200 day simple moving average of $1.91.

Insider Activity

In other news, CEO Robert W. Pittman acquired 200,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 4,241,389 shares in the company, valued at approximately $6,786,222.40. The trade was a 4.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard J. Bressler purchased 100,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $1.79 per share, with a total value 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 disclosure for this purchase can be found here. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Separately, Guggenheim cut their target price on iHeartMedia from $5.00 to $4.50 and set a “buy” rating on the stock in a research 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.