Geode Capital Management LLC Acquires 137,896 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

Geode Capital Management LLC lifted its holdings in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,515,516 shares of the company’s stock after buying an additional 137,896 shares during the quarter. Geode Capital Management LLC’s holdings in iHeartMedia were worth $4,655,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in IHRT. AQR Capital Management LLC increased its holdings 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 worth $4,262,000 after buying an additional 2,227,676 shares during the period. Aristeia Capital L.L.C. purchased a new position in iHeartMedia in the 2nd quarter worth approximately $2,461,000. Acadian Asset Management LLC boosted its stake in shares of iHeartMedia by 287.5% during the second quarter. Acadian Asset Management LLC now owns 784,374 shares of the company’s stock valued at $854,000 after purchasing an additional 581,980 shares during the period. GSA Capital Partners LLP increased its stake in shares of iHeartMedia by 19.2% in the third quarter. GSA Capital Partners LLP now owns 485,096 shares of the company’s stock worth $897,000 after buying an additional 78,177 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in iHeartMedia by 10.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 403,283 shares of the company’s stock valued at $440,000 after buying an additional 37,656 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other 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 value of $96,535.20. Following the completion of the transaction, the director now owns 339,322 shares of the company’s stock, valued at approximately $814,372.80. This represents a 10.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.30% of the stock is owned by insiders.

iHeartMedia Trading Up 5.4 %

Shares of NASDAQ IHRT opened at $2.13 on Monday. The firm has a fifty day simple moving average of $2.19 and a two-hundred day simple moving average of $1.77. The firm has a market capitalization of $313.27 million, a PE ratio of -0.31 and a beta of 1.71. iHeartMedia, Inc. has a 12 month low of $0.81 and a 12 month high of $3.04.

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.