GSA Capital Partners LLP Buys 78,177 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

GSA Capital Partners LLP raised its stake in iHeartMedia, Inc. (NASDAQ:IHRT) by 19.2% during the third quarter, HoldingsChannel reports. The fund owned 485,096 shares of the company’s stock after buying an additional 78,177 shares during the period. GSA Capital Partners LLP’s holdings in iHeartMedia were worth $897,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC increased its stake in iHeartMedia by 100.1% during the 2nd quarter. Algert Global LLC now owns 50,506 shares of the company’s stock valued at $55,000 after purchasing an additional 25,266 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of iHeartMedia by 132.4% during the second quarter. AQR Capital Management LLC now owns 3,909,729 shares of the company’s stock valued at $4,262,000 after buying an additional 2,227,676 shares during the last quarter. Aristeia Capital L.L.C. bought a new stake in shares of iHeartMedia during the second quarter valued at approximately $2,461,000. Hsbc Holdings PLC raised its holdings in iHeartMedia by 111.4% in the 2nd quarter. Hsbc Holdings PLC now owns 156,842 shares of the company’s stock worth $176,000 after acquiring an additional 82,641 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in iHeartMedia by 644.6% in the 2nd quarter. Renaissance Technologies LLC now owns 166,800 shares of the company’s stock valued at $182,000 after acquiring an additional 144,400 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director James A. Rasulo sold 40,223 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $2.40, for a total value of $96,535.20. Following the transaction, the director now owns 339,322 shares of the company’s stock, valued at approximately $814,372.80. This trade represents a 10.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.30% of the stock is currently owned by corporate insiders.

iHeartMedia Trading Down 4.3 %

NASDAQ:IHRT opened at $2.21 on Friday. The company has a market cap of $324.44 million, a PE ratio of -0.33, a price-to-earnings-growth ratio of 0.45 and a beta of 1.69. The company has a 50 day simple moving average of $1.90 and a two-hundred day simple moving average of $1.54. iHeartMedia, Inc. has a 12 month low of $0.81 and a 12 month high of $3.12.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IHRT. Barrington Research upgraded iHeartMedia to a “hold” rating in a research note on Tuesday, November 12th. Bank of America upgraded iHeartMedia from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $1.00 to $3.00 in a report on Tuesday, November 12th.

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.