42,110 Shares in iHeartMedia, Inc. (NASDAQ:IHRT) Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) during the 3rd quarter, Holdings Channel reports. The firm bought 42,110 shares of the company’s stock, valued at approximately $78,000.

Several other hedge funds have also bought and sold shares of IHRT. Intech Investment Management LLC bought a new position in shares of iHeartMedia in the third quarter worth approximately $45,000. GSA Capital Partners LLP lifted its stake in shares of iHeartMedia by 19.2% during the 3rd quarter. GSA Capital Partners LLP now owns 485,096 shares of the company’s stock valued at $897,000 after buying an additional 78,177 shares in the last quarter. Algert Global LLC boosted its holdings in iHeartMedia by 100.1% in the 2nd quarter. Algert Global LLC now owns 50,506 shares of the company’s stock worth $55,000 after buying an additional 25,266 shares during the period. AQR Capital Management LLC increased its stake in iHeartMedia by 132.4% in the 2nd quarter. AQR Capital Management LLC now owns 3,909,729 shares of the company’s stock worth $4,262,000 after buying an additional 2,227,676 shares in the last quarter. Finally, Aristeia Capital L.L.C. bought a new stake in iHeartMedia during the second quarter valued at about $2,461,000. Institutional investors own 93.89% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at iHeartMedia

In related news, Director James A. Rasulo sold 40,223 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $2.40, for a total transaction of $96,535.20. Following the completion of the transaction, the director now directly owns 339,322 shares of the company’s stock, valued at approximately $814,372.80. This represents a 10.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.30% of the company’s stock.

iHeartMedia Stock Down 5.5 %

Shares of IHRT stock opened at $2.06 on Wednesday. The company’s fifty day simple moving average is $2.17 and its two-hundred day simple moving average is $1.69. iHeartMedia, Inc. has a 52 week low of $0.81 and a 52 week high of $3.04. The stock has a market cap of $302.97 million, a P/E ratio of -0.30 and a beta of 1.71.

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.