Schonfeld Strategic Advisors LLC Buys 500,000 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

Schonfeld Strategic Advisors LLC boosted its stake in iHeartMedia, Inc. (NASDAQ:IHRT) by 20.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000,000 shares of the company’s stock after buying an additional 500,000 shares during the quarter. Schonfeld Strategic Advisors LLC owned approximately 2.04% of iHeartMedia worth $5,940,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Mariner LLC grew its holdings in shares of iHeartMedia by 4.5% in the 4th quarter. Mariner LLC now owns 122,374 shares of the company’s stock worth $242,000 after purchasing an additional 5,269 shares during the last quarter. SG Americas Securities LLC boosted its position in iHeartMedia by 26.6% in the fourth quarter. SG Americas Securities LLC now owns 45,648 shares of the company’s stock valued at $90,000 after buying an additional 9,592 shares in the last quarter. Virtu Financial LLC grew its stake in iHeartMedia by 93.3% during the fourth quarter. Virtu Financial LLC now owns 30,010 shares of the company’s stock worth $59,000 after buying an additional 14,485 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of iHeartMedia by 99.1% during the fourth quarter. Intech Investment Management LLC now owns 48,178 shares of the company’s stock worth $95,000 after buying an additional 23,977 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of iHeartMedia by 136.2% in the fourth quarter. Marshall Wace LLP now owns 43,721 shares of the company’s stock valued at $87,000 after acquiring an additional 25,209 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

iHeartMedia Price Performance

IHRT opened at $1.06 on Friday. The stock has a market capitalization of $156.01 million, a P/E ratio of -0.16 and a beta of 1.48. The company’s 50 day simple moving average is $1.43 and its 200-day simple moving average is $1.91. iHeartMedia, Inc. has a one year low of $0.81 and a one year high of $2.84.

Insider Buying and Selling at iHeartMedia

In other iHeartMedia news, insider Richard J. Bressler bought 100,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $1.79 per share, for a total transaction of $179,000.00. Following the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert W. Pittman purchased 200,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $1.60 per share, with a total value of $320,000.00. Following the transaction, 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 disclosure for this purchase can be found here. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Guggenheim lowered 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 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.