Aristeia Capital L.L.C. Sells 307,154 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

Aristeia Capital L.L.C. reduced its stake in iHeartMedia, Inc. (NASDAQ:IHRT) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,360,188 shares of the company’s stock after selling 307,154 shares during the period. Aristeia Capital L.L.C. owned 1.60% of iHeartMedia worth $4,673,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IHRT. Barclays PLC grew its stake in shares of iHeartMedia by 513.4% during the 3rd quarter. Barclays PLC now owns 362,060 shares of the company’s stock worth $670,000 after acquiring an additional 303,034 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of iHeartMedia by 21.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock valued at $4,949,000 after buying an additional 436,656 shares during the period. Prudential Financial Inc. bought a new position in shares of iHeartMedia in the fourth quarter worth $578,000. Helix Partners Management LP acquired a new position in shares of iHeartMedia in the 4th quarter valued at approximately $911,000. Finally, SG Americas Securities LLC lifted its stake in iHeartMedia by 26.6% during the fourth quarter. SG Americas Securities LLC now owns 45,648 shares of the company’s stock worth $90,000 after purchasing an additional 9,592 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

iHeartMedia Stock Performance

iHeartMedia stock opened at $1.06 on Friday. The stock’s 50 day moving average price is $1.41 and its two-hundred day moving average price is $1.91. The stock has a market capitalization of $156.01 million, a price-to-earnings ratio of -0.16 and a beta of 1.48. iHeartMedia, Inc. has a 52-week low of $0.81 and a 52-week high of $2.84.

Insider Buying and Selling at iHeartMedia

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

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.