Bank of New York Mellon Corp Has $579,000 Stake in iHeartMedia, Inc. (NASDAQ:IHRT)

Bank of New York Mellon Corp reduced its position in iHeartMedia, Inc. (NASDAQ:IHRT) by 5.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 292,346 shares of the company’s stock after selling 17,110 shares during the quarter. Bank of New York Mellon Corp’s holdings in iHeartMedia were worth $579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in iHeartMedia by 26.6% in the fourth quarter. SG Americas Securities LLC now owns 45,648 shares of the company’s stock valued at $90,000 after acquiring an additional 9,592 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of iHeartMedia by 3.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,062,753 shares of the company’s stock valued at $3,816,000 after purchasing an additional 71,921 shares during the last quarter. Barclays PLC raised its holdings 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 buying an additional 303,034 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 in the last quarter. Finally, XTX Topco Ltd lifted its position in shares of iHeartMedia by 43.3% during the 3rd quarter. XTX Topco Ltd now owns 90,943 shares of the company’s stock worth $168,000 after buying an additional 27,486 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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.

iHeartMedia Stock Performance

NASDAQ IHRT opened at $1.76 on Friday. The firm’s fifty day moving average price is $2.03 and its two-hundred day moving average price is $2.03. The stock has a market cap of $259.04 million, a PE ratio of -0.26 and a beta of 1.78. iHeartMedia, Inc. has a fifty-two week low of $0.81 and a fifty-two week high of $2.84.

Insider Activity at iHeartMedia

In other iHeartMedia news, CEO Robert W. Pittman bought 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $1.60 per share, for a total transaction 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 represents a 4.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard J. Bressler purchased 100,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $1.79 per share, with a total value of $179,000.00. Following the purchase, 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 position. The disclosure for this purchase can be found here. 6.30% of the stock is currently owned by company insiders.

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.