MetLife Investment Management LLC Makes New $112,000 Investment in iHeartMedia, Inc. (NASDAQ:IHRT)

MetLife Investment Management LLC purchased a new stake in iHeartMedia, Inc. (NASDAQ:IHRT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 60,715 shares of the company’s stock, valued at approximately $112,000.

A number of other hedge funds also recently made changes to their positions in the stock. Aristeia Capital L.L.C. bought a new stake in iHeartMedia in the second quarter valued at approximately $2,461,000. AQR Capital Management LLC lifted its position in shares of iHeartMedia by 132.4% in the 2nd quarter. AQR Capital Management LLC now owns 3,909,729 shares of the company’s stock worth $4,262,000 after purchasing an additional 2,227,676 shares during the period. Acadian Asset Management LLC boosted its stake in shares of iHeartMedia by 287.5% in the 2nd quarter. Acadian Asset Management LLC now owns 784,374 shares of the company’s stock valued at $854,000 after purchasing an additional 581,980 shares during the last quarter. Vanguard Group Inc. increased its position in shares of iHeartMedia by 3.2% during the first quarter. Vanguard Group Inc. now owns 6,580,896 shares of the company’s stock worth $13,754,000 after buying an additional 203,917 shares during the period. Finally, Renaissance Technologies LLC raised its stake in iHeartMedia by 644.6% during the second quarter. Renaissance Technologies LLC now owns 166,800 shares of the company’s stock worth $182,000 after buying an additional 144,400 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director James A. Rasulo sold 40,223 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $2.40, for a total transaction of $96,535.20. Following the completion of the sale, the director now owns 339,322 shares in the company, valued at $814,372.80. The trade was a 10.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.30% of the stock is owned by company insiders.

iHeartMedia Trading Down 4.6 %

Shares of NASDAQ IHRT opened at $2.49 on Tuesday. The firm has a market capitalization of $366.21 million, a P/E ratio of -0.37 and a beta of 1.71. The firm’s 50-day moving average price is $2.12 and its 200-day moving average price is $1.62. iHeartMedia, Inc. has a 1-year low of $0.81 and a 1-year high of $3.04.

Wall Street Analyst Weigh In

A number of analysts have commented on IHRT shares. Barrington Research raised shares of iHeartMedia to a “hold” rating in a research report on Tuesday, November 12th. Bank of America upgraded iHeartMedia from an “underperform” rating to a “neutral” rating and upped their target price for the company from $1.00 to $3.00 in a research report on Tuesday, November 12th. Finally, Guggenheim lifted their target price on iHeartMedia from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th.

About iHeartMedia

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.