Barclays PLC Cuts Stock Holdings in iHeartMedia, Inc. (NASDAQ:IHRT)

Barclays PLC decreased its position in iHeartMedia, Inc. (NASDAQ:IHRT) by 27.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,993 shares of the company’s stock after selling 101,067 shares during the quarter. Barclays PLC owned approximately 0.18% of iHeartMedia worth $517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of iHeartMedia by 47.3% in the fourth quarter. Renaissance Technologies LLC now owns 377,600 shares of the company’s stock valued at $748,000 after buying an additional 121,300 shares during the period. Invesco Ltd. lifted its holdings in iHeartMedia by 6.1% during the fourth quarter. Invesco Ltd. now owns 685,069 shares of the company’s stock valued at $1,356,000 after purchasing an additional 39,425 shares during the last quarter. Helix Partners Management LP bought a new position in iHeartMedia during the fourth quarter worth about $911,000. Geode Capital Management LLC increased its stake in shares of iHeartMedia by 2.0% in the fourth 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. Finally, JPMorgan Chase & Co. raised its position in shares of iHeartMedia by 21.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock valued at $4,949,000 after purchasing an additional 436,656 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

iHeartMedia Trading Up 10.0 %

IHRT stock opened at $1.21 on Friday. The firm has a 50 day moving average of $1.34 and a 200-day moving average of $1.89. The firm has a market capitalization of $178.09 million, a P/E ratio of -0.18 and a beta of 1.72. iHeartMedia, Inc. has a 12 month low of $0.81 and a 12 month high of $2.84.

Analyst Upgrades and Downgrades

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.

Insider Buying and Selling at iHeartMedia

In related news, insider Richard J. Bressler acquired 100,000 shares of iHeartMedia stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $1.79 per share, with a total value of $179,000.00. Following the completion of the purchase, the insider now owns 3,617,764 shares of the company’s stock, valued at $6,475,797.56. This represents a 2.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert W. Pittman acquired 200,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $1.60 per share, for a total transaction of $320,000.00. Following the transaction, the chief executive officer now directly owns 4,241,389 shares of the company’s stock, valued at approximately $6,786,222.40. This trade represents a 4.95 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.

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.