Thrivent Financial for Lutherans Sells 64,086 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

Thrivent Financial for Lutherans lowered its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 28.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,765 shares of the company’s stock after selling 64,086 shares during the period. Thrivent Financial for Lutherans owned approximately 0.11% of iHeartMedia worth $314,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of iHeartMedia by 5.8% in the third quarter. Geode Capital Management LLC now owns 2,515,516 shares of the company’s stock valued at $4,655,000 after buying an additional 137,896 shares during the period. JPMorgan Chase & Co. raised its stake in iHeartMedia by 3.6% in the third quarter. JPMorgan Chase & Co. now owns 2,062,753 shares of the company’s stock valued at $3,816,000 after purchasing an additional 71,921 shares in the last quarter. Barclays PLC lifted its position in iHeartMedia by 513.4% during the third quarter. Barclays PLC now owns 362,060 shares of the company’s stock worth $670,000 after purchasing an additional 303,034 shares during the period. XTX Topco Ltd grew its stake in iHeartMedia by 43.3% during the third quarter. XTX Topco Ltd now owns 90,943 shares of the company’s stock worth $168,000 after buying an additional 27,486 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in iHeartMedia in the 3rd quarter valued at about $112,000. Institutional investors own 93.89% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Robert W. Pittman purchased 200,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $1.60 per share, for a total transaction of $320,000.00. Following the acquisition, the chief executive officer now owns 4,241,389 shares in the company, valued at $6,786,222.40. This trade represents a 4.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard J. Bressler purchased 100,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $1.79 per share, for a total transaction of $179,000.00. Following the transaction, the insider now directly owns 3,617,764 shares in the company, valued at approximately $6,475,797.56. This trade represents a 2.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Guggenheim cut their target price on iHeartMedia from $5.00 to $4.50 and set a “buy” rating for the company in a research note on Monday, March 10th.

iHeartMedia Trading Down 9.8 %

Shares of IHRT stock opened at $1.20 on Friday. The business’s 50-day moving average price is $1.92 and its 200-day moving average price is $2.02. iHeartMedia, Inc. has a 12 month low of $0.81 and a 12 month high of $2.84. The firm has a market capitalization of $176.61 million, a price-to-earnings ratio of -0.18 and a beta of 1.48.

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.