CastleKnight Management LP Acquires 396,675 Shares of iHeartMedia, Inc. (NASDAQ:IHRT)

CastleKnight Management LP grew its holdings in iHeartMedia, Inc. (NASDAQ:IHRT) by 659.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 456,800 shares of the company’s stock after purchasing an additional 396,675 shares during the period. CastleKnight Management LP owned approximately 0.31% of iHeartMedia worth $904,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Schonfeld Strategic Advisors LLC raised its holdings in iHeartMedia by 20.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,000,000 shares of the company’s stock valued at $5,940,000 after acquiring an additional 500,000 shares during the period. Geode Capital Management LLC lifted its holdings in iHeartMedia by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,566,735 shares of the company’s stock worth $5,083,000 after purchasing an additional 51,219 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in iHeartMedia by 21.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,499,409 shares of the company’s stock worth $4,949,000 after purchasing an additional 436,656 shares during the period. Bridgeway Capital Management LLC grew its holdings in iHeartMedia by 17.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,595,198 shares of the company’s stock valued at $3,158,000 after buying an additional 231,481 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of iHeartMedia by 8.2% during the fourth quarter. Northern Trust Corp now owns 991,602 shares of the company’s stock valued at $1,963,000 after buying an additional 75,171 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

iHeartMedia Trading Up 3.8 %

Shares of NASDAQ IHRT opened at $1.09 on Wednesday. The business has a 50-day moving average of $1.36 and a 200-day moving average of $1.90. The firm has a market capitalization of $160.43 million, a price-to-earnings ratio of -0.16 and a beta of 1.72. iHeartMedia, Inc. has a 12 month low of $0.81 and a 12 month high of $2.84.

Insiders Place Their Bets

In related news, insider Richard J. Bressler acquired 100,000 shares of iHeartMedia stock in a transaction dated Friday, March 7th. The shares were purchased 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 owns 3,617,764 shares of the company’s stock, valued at $6,475,797.56. This represents a 2.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert W. Pittman bought 200,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $1.60 per share, with a total value of $320,000.00. Following the purchase, the chief executive officer now owns 4,241,389 shares in the company, valued at $6,786,222.40. The trade was a 4.95 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company’s stock.

iHeartMedia Company 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.