Jane Street Group LLC Sells 7,666 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

Jane Street Group LLC lowered its stake in iHeartMedia, Inc. (NASDAQ:IHRT) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 454,995 shares of the company’s stock after selling 7,666 shares during the quarter. Jane Street Group LLC owned about 0.31% of iHeartMedia worth $842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of iHeartMedia by 10.3% in the second quarter. Bank of New York Mellon Corp now owns 403,283 shares of the company’s stock worth $440,000 after purchasing an additional 37,656 shares during the last quarter. Rhumbline Advisers increased its stake in iHeartMedia by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 184,290 shares of the company’s stock worth $201,000 after acquiring an additional 7,258 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of iHeartMedia by 287.5% during the 2nd 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 in the last quarter. PFG Investments LLC boosted its position in shares of iHeartMedia by 53.5% during the 2nd quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock valued at $36,000 after acquiring an additional 11,500 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of iHeartMedia by 644.6% in the second quarter. Renaissance Technologies LLC now owns 166,800 shares of the company’s stock valued at $182,000 after purchasing an additional 144,400 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

iHeartMedia Stock Up 5.3 %

NASDAQ IHRT opened at $1.98 on Thursday. iHeartMedia, Inc. has a 52 week low of $0.81 and a 52 week high of $3.04. The firm has a market capitalization of $291.20 million, a price-to-earnings ratio of -0.29 and a beta of 1.71. The company has a fifty day moving average of $2.17 and a two-hundred day moving average of $1.75.

Insider Buying and Selling

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 stock was 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 of the company’s stock, valued at approximately $814,372.80. This trade 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 corporate insiders.

Analyst Upgrades and Downgrades

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

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.