iHeartMedia, Inc. (NASDAQ:IHRT) Stock Holdings Lessened by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its stake in iHeartMedia, Inc. (NASDAQ:IHRT) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,464,342 shares of the company’s stock after selling 21,277 shares during the quarter. Allianz Asset Management GmbH owned 15.27% of iHeartMedia worth $44,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP raised its position in iHeartMedia by 19.2% during the third quarter. GSA Capital Partners LLP now owns 485,096 shares of the company’s stock valued at $897,000 after acquiring an additional 78,177 shares in the last quarter. Intech Investment Management LLC bought a new position in iHeartMedia during the third quarter valued at approximately $45,000. The Manufacturers Life Insurance Company bought a new position in iHeartMedia during the third quarter valued at approximately $78,000. FMR LLC raised its position in iHeartMedia by 25.2% during the third quarter. FMR LLC now owns 22,879 shares of the company’s stock valued at $42,000 after acquiring an additional 4,598 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in iHeartMedia during the third quarter valued at approximately $112,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Guggenheim raised their price objective on shares of iHeartMedia from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Bank of America upgraded iHeartMedia from an “underperform” rating to a “neutral” rating and increased their price target for the company from $1.00 to $3.00 in a report on Tuesday, November 12th. Finally, Barrington Research upgraded iHeartMedia to a “hold” rating in a report on Tuesday, November 12th.

iHeartMedia Stock Down 3.2 %

Shares of IHRT stock opened at $2.11 on Friday. iHeartMedia, Inc. has a 12 month low of $0.81 and a 12 month high of $3.04. The business’s 50 day moving average is $2.15 and its two-hundred day moving average is $1.99. The company has a market cap of $310.32 million, a PE ratio of -0.31 and a beta of 1.73.

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.