James A. Rasulo Sells 40,223 Shares of iHeartMedia, Inc. (NASDAQ:IHRT) 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 stock was sold at an average price of $2.40, for a total value of $96,535.20. Following the sale, the director now directly owns 339,322 shares in the company, valued at $814,372.80. This trade represents a 10.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

iHeartMedia Price Performance

Shares of IHRT stock traded down $0.10 during mid-day trading on Friday, hitting $2.21. The stock had a trading volume of 759,579 shares, compared to its average volume of 957,310. iHeartMedia, Inc. has a 12-month low of $0.81 and a 12-month high of $3.12. The firm has a market capitalization of $324.44 million, a P/E ratio of -0.34, a price-to-earnings-growth ratio of 0.45 and a beta of 1.69. The firm’s 50-day moving average is $1.89 and its two-hundred day moving average is $1.55.

Institutional Investors Weigh In On iHeartMedia

A number of hedge funds have recently made changes to their positions in the stock. Optas LLC purchased a new stake in iHeartMedia in the second quarter valued at about $29,000. PFG Investments LLC raised its stake in iHeartMedia by 53.5% in the second 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. FMR LLC raised its stake in iHeartMedia by 25.2% in the third quarter. FMR LLC now owns 22,879 shares of the company’s stock valued at $42,000 after buying an additional 4,598 shares during the last quarter. Intech Investment Management LLC purchased a new stake in iHeartMedia in the third quarter valued at about $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 valued at $55,000 after buying an additional 25,266 shares during the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IHRT has been the topic of several recent research reports. Barrington Research raised iHeartMedia to a “hold” rating in a report on Tuesday. Bank of America raised iHeartMedia from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $1.00 to $3.00 in a research report on Tuesday.

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.