iHeartMedia, Inc. (NASDAQ:IHRT) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its position in iHeartMedia, Inc. (NASDAQ:IHRT) by 32.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,637,817 shares of the company’s stock after selling 2,274,962 shares during the quarter. Douglas Lane & Associates LLC owned about 3.15% of iHeartMedia worth $9,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. PFG Investments LLC grew its holdings in iHeartMedia by 53.5% in the 2nd quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock worth $36,000 after buying an additional 11,500 shares in the last quarter. FMR LLC grew its stake in shares of iHeartMedia by 25.2% in the third quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after purchasing an additional 4,598 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of iHeartMedia during the third quarter valued at $45,000. Algert Global LLC raised its stake in shares of iHeartMedia by 100.1% during the second 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. Finally, Quadrature Capital Ltd acquired a new stake in iHeartMedia in the third quarter worth about $56,000. Institutional investors own 93.89% of the company’s stock.

Insider Transactions at iHeartMedia

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 transaction of $96,535.20. Following the completion of the sale, the director now directly owns 339,322 shares in the company, valued at approximately $814,372.80. This trade represents a 10.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

IHRT has been the topic of several research analyst reports. Bank of America raised shares of iHeartMedia from an “underperform” rating to a “neutral” rating and raised their target price for the company from $1.00 to $3.00 in a research note on Tuesday, November 12th. Barrington Research upgraded shares of iHeartMedia to a “hold” rating in a research note on Tuesday, November 12th. Finally, Guggenheim upped 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.

iHeartMedia Trading Down 5.2 %

Shares of iHeartMedia stock opened at $1.99 on Thursday. 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 $292.68 million, a PE ratio of -0.29 and a beta of 1.72. The company’s 50-day moving average price is $2.19 and its two-hundred day moving average price is $1.79.

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.