Aigen Investment Management LP purchased a new stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,022 shares of the company’s stock, valued at approximately $617,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Acadian Asset Management LLC lifted its position in shares of iHeartMedia by 2,139.4% in the first quarter. Acadian Asset Management LLC now owns 1,478 shares of the company’s stock valued at $27,000 after buying an additional 1,412 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of iHeartMedia by 5.2% in the first quarter. Russell Investments Group Ltd. now owns 161,985 shares of the company’s stock valued at $2,938,000 after buying an additional 8,048 shares during the last quarter. Jaffetilchin Investment Partners LLC acquired a new stake in shares of iHeartMedia in the first quarter valued at approximately $236,000. BlackRock Inc. lifted its position in shares of iHeartMedia by 26.7% in the first quarter. BlackRock Inc. now owns 7,757,099 shares of the company’s stock valued at $140,791,000 after buying an additional 1,635,582 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of iHeartMedia by 3.1% in the first quarter. Swiss National Bank now owns 145,100 shares of the company’s stock valued at $2,634,000 after buying an additional 4,400 shares during the last quarter. 68.86% of the stock is owned by hedge funds and other institutional investors.
In other iHeartMedia news, CFO Michael B. Mcguinness sold 20,000 shares of the firm’s stock in a transaction on Friday, May 14th. The stock was sold at an average price of $22.45, for a total transaction of $449,000.00. Following the transaction, the chief financial officer now owns 18,630 shares in the company, valued at approximately $418,243.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.
IHRT has been the subject of a number of recent analyst reports. Wolfe Research raised iHeartMedia from a “peer perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Thursday, March 25th. Zacks Investment Research upgraded iHeartMedia from a “sell” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. upgraded iHeartMedia from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $17.00 to $29.00 in a research note on Monday, May 10th. Bank of America upgraded iHeartMedia from an “underperform” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Tuesday, April 13th. Finally, Morgan Stanley increased their target price on iHeartMedia from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, May 10th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $23.00.
iHeartMedia, Inc operates as a media and entertainment company worldwide. It operates through two segments, Audio, and Audio & Media Services. The Audio segment offers broadcast radio, digital, mobile, podcasts, social, program syndication, traffic, weather, news and sports data distribution, and on-demand entertainment, as well as live events, including mobile platforms and products; and operates Premiere Networks, a national radio network that produces, distributes, or represents approximately 120 syndicated radio programs and services to approximately 6,500 radio station affiliates.
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