Susquehanna Fundamental Investments LLC Purchases New Holdings in iHeartMedia, Inc. (NASDAQ:IHRT)

Susquehanna Fundamental Investments LLC acquired a new position in shares of iHeartMedia, Inc. (NASDAQ:IHRT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 35,316 shares of the company’s stock, valued at approximately $70,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Helix Partners Management LP bought a new stake in shares of iHeartMedia during the 4th quarter worth approximately $911,000. JPMorgan Chase & Co. boosted its holdings in shares of iHeartMedia by 21.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock valued at $4,949,000 after purchasing an additional 436,656 shares in the last quarter. Barclays PLC increased its stake in shares of iHeartMedia by 513.4% in the 3rd quarter. Barclays PLC now owns 362,060 shares of the company’s stock valued at $670,000 after purchasing an additional 303,034 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of iHeartMedia during the 4th quarter worth $578,000. Finally, Geode Capital Management LLC lifted its position in shares of iHeartMedia by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,515,516 shares of the company’s stock worth $4,655,000 after buying an additional 137,896 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

iHeartMedia Price Performance

NASDAQ:IHRT opened at $1.05 on Tuesday. iHeartMedia, Inc. has a one year low of $0.81 and a one year high of $2.84. The firm’s 50 day simple moving average is $1.38 and its 200 day simple moving average is $1.90. The company has a market cap of $154.54 million, a PE ratio of -0.15 and a beta of 1.72.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider Richard J. Bressler acquired 100,000 shares of the business’s stock in a transaction that occurred on 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 purchase, the insider now directly owns 3,617,764 shares in the company, valued at $6,475,797.56. The trade was a 2.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert W. Pittman bought 200,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $1.60 per share, with a total value of $320,000.00. Following the transaction, the chief executive officer now directly owns 4,241,389 shares in the company, valued at approximately $6,786,222.40. This trade represents a 4.95 % increase in their position. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by 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.