EntryPoint Capital LLC Invests $199,000 in iHeartMedia, Inc. (NASDAQ:IHRT)

EntryPoint Capital LLC acquired a new stake in shares of iHeartMedia, Inc. (NASDAQ:IHRT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,419 shares of the company’s stock, valued at approximately $199,000. EntryPoint Capital LLC owned 0.07% of iHeartMedia as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IHRT. Intech Investment Management LLC bought a new position in shares of iHeartMedia during the 3rd quarter valued at approximately $45,000. The Manufacturers Life Insurance Company purchased a new stake in shares of iHeartMedia during the 3rd quarter valued at about $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 purchasing an additional 4,598 shares during the period. MetLife Investment Management LLC bought a new stake in iHeartMedia in the third quarter worth $112,000. Finally, Quadrature Capital Ltd bought a new stake in shares of iHeartMedia in the 3rd quarter worth about $56,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

iHeartMedia Price Performance

NASDAQ:IHRT opened at $1.64 on Friday. iHeartMedia, Inc. has a 1-year low of $0.81 and a 1-year high of $2.84. The firm has a market capitalization of $241.37 million, a P/E ratio of -0.24 and a beta of 1.78. The company’s fifty day moving average price is $2.02 and its 200-day moving average price is $2.03.

Insiders Place Their Bets

In other iHeartMedia news, CEO Robert W. Pittman bought 200,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $1.60 per share, with a total value of $320,000.00. Following the purchase, the chief executive officer now directly owns 4,241,389 shares in the company, valued at $6,786,222.40. This trade represents a 4.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Richard J. Bressler bought 100,000 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $1.79 per share, for a total transaction of $179,000.00. Following the completion of the acquisition, the insider now owns 3,617,764 shares in the company, valued at approximately $6,475,797.56. The trade was a 2.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Guggenheim lowered their price objective on shares of iHeartMedia from $5.00 to $4.50 and set a “buy” rating for the company in a research report on Monday, March 10th.

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.