Jane Street Group LLC Lowers Holdings in iHeartMedia, Inc. (NASDAQ:IHRT)

Jane Street Group LLC lowered its position in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 454,995 shares of the company’s stock after selling 7,666 shares during the period. Jane Street Group LLC’s holdings in iHeartMedia were worth $842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC grew its holdings in iHeartMedia by 25.2% during the 3rd quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after acquiring an additional 4,598 shares in the last quarter. Rhumbline Advisers lifted its position in shares of iHeartMedia by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 184,290 shares of the company’s stock worth $201,000 after purchasing an additional 7,258 shares during the period. PFG Investments LLC boosted its stake in shares of iHeartMedia by 53.5% during the second quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock valued at $36,000 after purchasing an additional 11,500 shares in the last quarter. Intech Investment Management LLC purchased a new position in iHeartMedia during the third quarter valued at approximately $45,000. Finally, Algert Global LLC raised its stake in iHeartMedia by 100.1% in the second quarter. Algert Global LLC now owns 50,506 shares of the company’s stock worth $55,000 after buying an additional 25,266 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling at iHeartMedia

In other iHeartMedia news, Director James A. Rasulo sold 40,223 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $2.40, for a total value of $96,535.20. Following the completion of the transaction, the director now owns 339,322 shares of the company’s stock, valued at approximately $814,372.80. This trade represents a 10.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.30% of the stock is currently owned by company insiders.

iHeartMedia Trading Up 5.3 %

Shares of IHRT stock opened at $1.98 on Thursday. The company has a market cap of $291.20 million, a PE ratio of -0.29 and a beta of 1.71. iHeartMedia, Inc. has a 12-month low of $0.81 and a 12-month high of $3.04. The business’s fifty day simple moving average is $2.17 and its 200-day simple moving average is $1.75.

Wall Street Analysts Forecast Growth

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

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.