JPMorgan Chase & Co. Has $3.82 Million Stock Position in iHeartMedia, Inc. (NASDAQ:IHRT)

JPMorgan Chase & Co. lifted its stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,062,753 shares of the company’s stock after buying an additional 71,921 shares during the period. JPMorgan Chase & Co. owned about 1.40% of iHeartMedia worth $3,816,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Aristeia Capital L.L.C. bought a new position in iHeartMedia in the second quarter valued at about $2,461,000. Barclays PLC raised its holdings in iHeartMedia by 513.4% in the 3rd quarter. Barclays PLC now owns 362,060 shares of the company’s stock valued at $670,000 after buying an additional 303,034 shares during the last quarter. AQR Capital Management LLC boosted its position in iHeartMedia by 132.4% during the 2nd 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. Hsbc Holdings PLC boosted its position in iHeartMedia by 111.4% during the 2nd quarter. Hsbc Holdings PLC now owns 156,842 shares of the company’s stock worth $176,000 after buying an additional 82,641 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in iHeartMedia by 19.2% during the 3rd quarter. GSA Capital Partners LLP now owns 485,096 shares of the company’s stock worth $897,000 after acquiring an additional 78,177 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analysts Set New Price Targets

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

iHeartMedia Stock Up 5.4 %

IHRT opened at $2.33 on Friday. The stock has a market cap of $342.67 million, a PE ratio of -0.34 and a beta of 1.72. iHeartMedia, Inc. has a twelve month low of $0.81 and a twelve month high of $3.04. The company has a fifty day moving average of $2.20 and a 200-day moving average of $1.83.

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 value of $96,535.20. Following the transaction, the director now directly owns 339,322 shares of the company’s stock, valued at approximately $814,372.80. The trade was a 10.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.30% of the stock is owned by corporate insiders.

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.