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 firm’s stock in a transaction dated 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 approximately $814,372.80. This trade represents a 10.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

iHeartMedia Stock Down 4.3 %

NASDAQ IHRT traded down $0.10 during trading hours on Friday, hitting $2.21. 759,579 shares of the company were exchanged, compared to its average volume of 957,310. The company has a 50 day moving average of $1.89 and a two-hundred day moving average of $1.55. iHeartMedia, Inc. has a 52-week low of $0.81 and a 52-week high of $3.12. The firm has a market cap of $324.44 million, a price-to-earnings ratio of -0.34, a PEG ratio of 0.45 and a beta of 1.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IHRT. FMR LLC boosted its position in shares of iHeartMedia by 25.2% in the 3rd quarter. FMR LLC now owns 22,879 shares of the company’s stock valued at $42,000 after purchasing an additional 4,598 shares during the period. Rhumbline Advisers raised its stake in shares of 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 increased its stake 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 purchasing an additional 11,500 shares in the last quarter. Intech Investment Management LLC purchased a new position in iHeartMedia in the 3rd quarter valued at approximately $45,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in iHeartMedia by 169.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,790 shares of the company’s stock valued at $84,000 after purchasing an additional 25,001 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

About iHeartMedia

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.