Intech Investment Management LLC Buys Shares of 24,201 iHeartMedia, Inc. (NASDAQ:IHRT)

Intech Investment Management LLC purchased a new position in iHeartMedia, Inc. (NASDAQ:IHRT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 24,201 shares of the company’s stock, valued at approximately $45,000.

A number of other large investors have also made changes to their positions in IHRT. Aristeia Capital L.L.C. purchased a new position in iHeartMedia in the 2nd quarter valued at about $2,461,000. AQR Capital Management LLC raised its position in shares of iHeartMedia by 132.4% in 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. Acadian Asset Management LLC boosted its position in iHeartMedia by 287.5% during the second quarter. Acadian Asset Management LLC now owns 784,374 shares of the company’s stock worth $854,000 after acquiring an additional 581,980 shares during the last quarter. Vanguard Group Inc. boosted its position in iHeartMedia by 3.2% during the first quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company’s stock worth $13,754,000 after acquiring an additional 203,917 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in iHeartMedia by 644.6% in the 2nd quarter. Renaissance Technologies LLC now owns 166,800 shares of the company’s stock worth $182,000 after acquiring an additional 144,400 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

iHeartMedia Stock Performance

NASDAQ IHRT opened at $2.49 on Tuesday. The firm has a market capitalization of $366.21 million, a price-to-earnings ratio of -0.37 and a beta of 1.71. iHeartMedia, Inc. has a one year low of $0.81 and a one year high of $3.04. The company’s 50 day moving average price is $2.12 and its 200 day moving average price is $1.62.

Insider Activity at iHeartMedia

In other iHeartMedia news, Director James A. Rasulo sold 40,223 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $2.40, for a total transaction of $96,535.20. Following the transaction, the director now owns 339,322 shares in the company, valued at $814,372.80. The trade was a 10.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.