Bank of New York Mellon Corp Has $579,000 Stake in iHeartMedia, Inc. (NASDAQ:IHRT)

Bank of New York Mellon Corp lessened its position in iHeartMedia, Inc. (NASDAQ:IHRT) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 292,346 shares of the company’s stock after selling 17,110 shares during the period. Bank of New York Mellon Corp owned about 0.20% of iHeartMedia worth $579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IHRT. FMR LLC grew its holdings in iHeartMedia by 25.2% during the third quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after purchasing an additional 4,598 shares during the period. Intech Investment Management LLC bought a new position in shares of iHeartMedia during the 3rd quarter worth approximately $45,000. Quadrature Capital Ltd acquired a new position in shares of iHeartMedia during the 3rd quarter worth approximately $56,000. The Manufacturers Life Insurance Company acquired a new position in shares of iHeartMedia during the 3rd quarter worth approximately $78,000. Finally, SG Americas Securities LLC raised its stake in iHeartMedia by 26.6% in the 4th quarter. SG Americas Securities LLC now owns 45,648 shares of the company’s stock valued at $90,000 after acquiring an additional 9,592 shares during the period. 93.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Guggenheim reduced their price objective on shares of iHeartMedia from $5.00 to $4.50 and set a “buy” rating for the company in a research report on Monday, March 10th.

iHeartMedia Stock Down 2.8 %

Shares of NASDAQ:IHRT opened at $1.76 on Friday. iHeartMedia, Inc. has a 12-month low of $0.81 and a 12-month high of $2.84. The business has a 50 day moving average of $2.03 and a 200-day moving average of $2.03. The stock has a market cap of $259.04 million, a PE ratio of -0.26 and a beta of 1.78.

Insider Activity at iHeartMedia

In other iHeartMedia news, insider Richard J. Bressler bought 100,000 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $1.79 per share, with a total value of $179,000.00. Following the completion of the acquisition, the insider now owns 3,617,764 shares of the company’s stock, valued at $6,475,797.56. This trade represents a 2.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert W. Pittman purchased 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $1.60 per share, with a total value of $320,000.00. Following the completion of the purchase, the chief executive officer now owns 4,241,389 shares of the company’s stock, valued at $6,786,222.40. This trade represents a 4.95 % increase in their position. The disclosure for this purchase can be found here. 6.30% of the stock is currently 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.