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 business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $2.40, for a total transaction of $96,535.20. Following the sale, the director now directly owns 339,322 shares in the company, valued at approximately $814,372.80. The trade was a 10.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

iHeartMedia Stock Performance

Shares of NASDAQ:IHRT opened at $2.21 on Friday. iHeartMedia, Inc. has a 52-week low of $0.81 and a 52-week high of $3.12. The business’s 50 day simple moving average is $1.90 and its two-hundred day simple moving average is $1.55. The firm has a market cap of $324.44 million, a P/E ratio of -0.33, a PEG ratio of 0.45 and a beta of 1.69.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IHRT shares. Bank of America upgraded iHeartMedia from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $1.00 to $3.00 in a report on Tuesday. Barrington Research raised iHeartMedia to a “hold” rating in a research report on Tuesday.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Optas LLC purchased a new position in shares of iHeartMedia during the second quarter valued at approximately $29,000. PFG Investments LLC raised its holdings in shares of iHeartMedia by 53.5% in the 2nd quarter. PFG Investments LLC now owns 33,000 shares of the company’s stock worth $36,000 after purchasing an additional 11,500 shares during the period. FMR LLC lifted its position in shares of iHeartMedia by 25.2% during the 3rd 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 bought a new position in iHeartMedia during the third quarter worth about $45,000. Finally, Algert Global LLC raised its holdings in iHeartMedia by 100.1% during the 2nd quarter. Algert Global LLC now owns 50,506 shares of the company’s stock valued at $55,000 after acquiring an additional 25,266 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

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.