MetLife Investment Management LLC Sells 41,628 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

MetLife Investment Management LLC reduced its position in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 68.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,087 shares of the company’s stock after selling 41,628 shares during the period. MetLife Investment Management LLC’s holdings in iHeartMedia were worth $38,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of iHeartMedia by 513.4% in the third 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 last quarter. JPMorgan Chase & Co. increased its holdings in iHeartMedia by 21.2% during the 4th 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 in the last quarter. Prudential Financial Inc. bought a new position in iHeartMedia in the 4th quarter valued at $578,000. Helix Partners Management LP acquired a new position in iHeartMedia in the fourth quarter worth $911,000. Finally, SG Americas Securities LLC grew its holdings in shares of iHeartMedia by 26.6% during the fourth quarter. SG Americas Securities LLC now owns 45,648 shares of the company’s stock worth $90,000 after purchasing an additional 9,592 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other iHeartMedia news, CEO Robert W. Pittman bought 200,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $1.60 per share, with a total value of $320,000.00. Following the acquisition, the chief executive officer now owns 4,241,389 shares of the company’s stock, valued at approximately $6,786,222.40. The trade was a 4.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard J. Bressler purchased 100,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $1.79 per share, for a total transaction 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 trade represents a 2.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company’s stock.

iHeartMedia Stock Performance

NASDAQ IHRT opened at $1.26 on Friday. The stock has a market capitalization of $185.45 million, a P/E ratio of -0.19 and a beta of 1.72. iHeartMedia, Inc. has a 52 week low of $0.81 and a 52 week high of $2.84. The stock has a fifty day moving average of $1.34 and a 200-day moving average of $1.88.

Wall Street Analyst Weigh In

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