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iHeartMedia, Inc. (NASDAQ:IHRT) shareholders (or potential shareholders) will be happy to see that the Chairman & CEO, Robert Pittman, recently bought a whopping US$1.0m worth of stock, at a price of US$21.33. Aside from being a solid chunk in its own right, the deft move also saw their holding increase by some 16%.
Check out our latest analysis for iHeartMedia
The Last 12 Months Of Insider Transactions At iHeartMedia
Notably, that recent purchase by Robert Pittman is the biggest insider purchase of iHeartMedia shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of US$23.25. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. In this case we're pleased to report that the insider bought shares at close to current prices. Robert Pittman was the only individual insider to buy during the last year.
Robert Pittman bought a total of 81.10k shares over the year at an average price of US$17.60. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
iHeartMedia is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership of iHeartMedia
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. iHeartMedia insiders own about US$19m worth of shares. That equates to 0.6% of the company. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
What Might The Insider Transactions At iHeartMedia Tell Us?
It's certainly positive to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. But we don't feel the same about the fact the company is making losses. Insiders likely see value in iHeartMedia shares, given these transactions (along with notable insider ownership of the company). While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. For example, iHeartMedia has 2 warning signs (and 1 which is significant) we think you should know about.