SG Americas Securities LLC Raises Stock Holdings in iHeartMedia, Inc. (NASDAQ:IHRT)

SG Americas Securities LLC grew its stake in iHeartMedia, Inc. (NASDAQ:IHRT) by 26.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,648 shares of the company’s stock after acquiring an additional 9,592 shares during the quarter. SG Americas Securities LLC’s holdings in iHeartMedia were worth $90,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IHRT. FMR LLC lifted 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 acquiring an additional 4,598 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of iHeartMedia in the third quarter valued at $45,000. Quadrature Capital Ltd purchased a new stake in shares of iHeartMedia in the third quarter valued at $56,000. The Manufacturers Life Insurance Company purchased a new stake in shares of iHeartMedia in the third quarter valued at $78,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of iHeartMedia in the third quarter valued at $112,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

iHeartMedia Trading Up 2.8 %

iHeartMedia stock opened at $2.24 on Friday. The firm has a market capitalization of $329.44 million, a P/E ratio of -0.33 and a beta of 1.73. The stock has a fifty day moving average price of $2.18 and a 200 day moving average price of $1.96. iHeartMedia, Inc. has a 52 week low of $0.81 and a 52 week 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.