Barclays PLC Acquires 303,034 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

Barclays PLC increased its holdings in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 513.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 362,060 shares of the company’s stock after purchasing an additional 303,034 shares during the quarter. Barclays PLC owned 0.25% of iHeartMedia worth $670,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of IHRT. FMR LLC boosted its holdings 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 during the period. Intech Investment Management LLC bought a new stake in iHeartMedia in the 3rd quarter valued at $45,000. Algert Global LLC boosted its stake 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 purchasing an additional 25,266 shares during the period. Quadrature Capital Ltd bought a new position in iHeartMedia during the 3rd quarter worth about $56,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of iHeartMedia in the 3rd quarter valued at about $78,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at iHeartMedia

In other iHeartMedia news, Director James A. Rasulo sold 40,223 shares of the business’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 transaction, the director now owns 339,322 shares of the company’s stock, valued at $814,372.80. The trade was a 10.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 6.30% of the company’s stock.

iHeartMedia Price Performance

Shares of NASDAQ IHRT opened at $2.21 on Friday. The business has a 50-day moving average of $2.20 and a 200-day moving average of $1.82. The stock has a market capitalization of $325.02 million, a price-to-earnings ratio of -0.33 and a beta of 1.72. iHeartMedia, Inc. has a fifty-two week low of $0.81 and a fifty-two week high of $3.04.

Analysts Set New Price Targets

IHRT has been the subject of several recent research reports. Bank of America raised iHeartMedia from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $1.00 to $3.00 in a research report on Tuesday, November 12th. Barrington Research raised iHeartMedia to a “hold” rating in a research report on Tuesday, November 12th. Finally, Guggenheim lifted their price objective on shares of iHeartMedia from $3.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 19th.

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.