iHeartMedia, Inc. (NASDAQ:IHRT) Director Sells $96,535.20 in Stock

iHeartMedia, Inc. (NASDAQ:IHRT) Director James A. Rasulo sold 40,223 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 339,322 shares in the company, valued at approximately $814,372.80. This represents a 10.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

iHeartMedia Stock Performance

Shares of IHRT opened at $2.21 on Monday. The company has a market cap of $324.45 million, a price-to-earnings ratio of -0.33 and a beta of 1.69. The stock has a fifty day moving average price of $1.90 and a two-hundred day moving average price of $1.54. iHeartMedia, Inc. has a 52-week low of $0.81 and a 52-week high of $3.12.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in shares of iHeartMedia by 25.2% in the third quarter. FMR LLC now owns 22,879 shares of the company’s stock worth $42,000 after acquiring an additional 4,598 shares during the last quarter. Rhumbline Advisers lifted its holdings in iHeartMedia by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 184,290 shares of the company’s stock worth $201,000 after buying an additional 7,258 shares in the last quarter. PFG Investments LLC boosted its position in iHeartMedia by 53.5% in the 2nd quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock valued at $36,000 after buying an additional 11,500 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of iHeartMedia in the 3rd quarter valued at $45,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of iHeartMedia by 169.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock worth $84,000 after acquiring an additional 25,001 shares during the last quarter. 93.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.