Virtu Financial LLC Has $59,000 Stock Holdings in iHeartMedia, Inc. (NASDAQ:IHRT)

Virtu Financial LLC increased its stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) by 93.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,010 shares of the company’s stock after buying an additional 14,485 shares during the period. Virtu Financial LLC’s holdings in iHeartMedia were worth $59,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of iHeartMedia by 25.2% during the third quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after purchasing an additional 4,598 shares in the last quarter. SG Americas Securities LLC raised its position in iHeartMedia by 26.6% in the 4th 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. Intech Investment Management LLC lifted its holdings in iHeartMedia by 99.1% during the 4th quarter. Intech Investment Management LLC now owns 48,178 shares of the company’s stock worth $95,000 after buying an additional 23,977 shares in the last quarter. XTX Topco Ltd boosted its position in iHeartMedia by 43.3% in the 3rd quarter. XTX Topco Ltd now owns 90,943 shares of the company’s stock valued at $168,000 after buying an additional 27,486 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of iHeartMedia in the 3rd quarter valued at $56,000. Institutional investors own 93.89% of the company’s stock.

Insider Activity at iHeartMedia

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

Wall Street Analyst Weigh In

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

iHeartMedia Price Performance

Shares of NASDAQ:IHRT opened at $1.65 on Tuesday. The firm’s 50 day simple moving average is $2.00 and its 200 day simple moving average is $2.03. iHeartMedia, Inc. has a fifty-two week low of $0.81 and a fifty-two week high of $2.84. The company has a market capitalization of $242.85 million, a price-to-earnings ratio of -0.24 and a beta of 1.78.

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.