iHeartMedia Sees Unusually Large Options Volume (NASDAQ:IHRT)

iHeartMedia, Inc. (NASDAQ:IHRT) was the target of unusually large options trading on Monday. Stock investors acquired 9,030 put options on the stock. This is an increase of approximately 1,479% compared to the average volume of 572 put options.

iHeartMedia Trading Up 2.1 %

Shares of IHRT stock opened at $1.92 on Tuesday. The stock has a 50 day simple moving average of $2.16 and a 200-day simple moving average of $1.71. The company has a market cap of $282.38 million, a price-to-earnings ratio of -0.28 and a beta of 1.71. iHeartMedia has a 12-month low of $0.81 and a 12-month high of $3.04.

Analyst Ratings Changes

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

Insider Transactions at iHeartMedia

In other iHeartMedia news, Director James A. Rasulo sold 40,223 shares of the firm’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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On iHeartMedia

A number of hedge funds and other institutional investors have recently bought and sold shares of IHRT. PFG Investments LLC increased its stake in iHeartMedia by 53.5% in the 2nd quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock valued at $36,000 after purchasing an additional 11,500 shares in the last quarter. FMR LLC increased its position in shares of iHeartMedia by 25.2% in the third quarter. FMR LLC now owns 22,879 shares of the company’s stock valued at $42,000 after buying an additional 4,598 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of iHeartMedia during the 3rd quarter worth $45,000. Algert Global LLC boosted its position in shares of 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 in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in iHeartMedia in the 3rd quarter valued at about $56,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

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.