Richard J. Bressler Acquires 100,000 Shares of iHeartMedia, Inc. (NASDAQ:IHRT) Stock

iHeartMedia, Inc. (NASDAQ:IHRT) insider Richard J. Bressler purchased 100,000 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average price of $1.79 per share, for a total transaction of $179,000.00. Following the acquisition, the insider now owns 3,617,764 shares of the company’s stock, valued at approximately $6,475,797.56. The trade was a 2.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

iHeartMedia Stock Performance

Shares of NASDAQ IHRT opened at $1.83 on Monday. The business has a fifty day moving average of $2.13 and a two-hundred day moving average of $2.03. iHeartMedia, Inc. has a 52-week low of $0.81 and a 52-week high of $2.84. The stock has a market cap of $269.15 million, a PE ratio of -0.27 and a beta of 1.78.

Wall Street Analyst Weigh In

Several brokerages recently commented on IHRT. Bank of America raised iHeartMedia from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $1.00 to $3.00 in a research report on Tuesday, November 12th. Barrington Research raised iHeartMedia to a “hold” rating in a research report on Tuesday, November 12th. Finally, Guggenheim raised their target price on iHeartMedia from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th.

Institutional Trading of iHeartMedia

Several institutional investors and hedge funds have recently added to or reduced their stakes in IHRT. GSA Capital Partners LLP increased its stake in shares of iHeartMedia by 19.2% in the 3rd quarter. GSA Capital Partners LLP now owns 485,096 shares of the company’s stock valued at $897,000 after acquiring an additional 78,177 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of iHeartMedia in the 3rd quarter valued at about $45,000. The Manufacturers Life Insurance Company bought a new stake in shares of iHeartMedia in the 3rd quarter valued at about $78,000. FMR LLC increased its stake in shares of iHeartMedia by 25.2% in the 3rd quarter. FMR LLC now owns 22,879 shares of the company’s stock valued at $42,000 after acquiring an additional 4,598 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of iHeartMedia in the 3rd quarter valued at about $112,000. 93.89% of the stock is owned by institutional investors.

About iHeartMedia

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.