Cumulus Media (NASDAQ:CMLS) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report issued on Friday. The firm set a “hold” rating on the stock.

Cumulus Media Price Performance

Shares of Cumulus Media stock opened at $0.45 on Friday. The stock has a 50 day moving average of $0.75 and a 200 day moving average of $0.94. Cumulus Media has a 12 month low of $0.41 and a 12 month high of $3.72. The firm has a market cap of $7.78 million, a PE ratio of -0.05 and a beta of 1.37. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68.

Hedge Funds Weigh In On Cumulus Media

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMLS. Y Intercept Hong Kong Ltd bought a new stake in shares of Cumulus Media in the 3rd quarter valued at approximately $25,000. Garden State Investment Advisory Services LLC bought a new stake in shares of Cumulus Media in the 3rd quarter valued at approximately $191,000. Finally, Zazove Associates LLC lifted its stake in shares of Cumulus Media by 4.8% in the 4th quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock valued at $1,024,000 after purchasing an additional 70,000 shares during the last quarter. 48.68% of the stock is owned by institutional investors.

Cumulus Media Company Profile

Cumulus Media Inc, an audio-first media company, owns and operates radio stations in the United States. It owns and operates stations in various markets, as well as affiliated stations through Westwood One. The company's content portfolio includes sports, news, talk, and entertainment programming from various brands, including the NFL, the NCAA, the Masters, CNN, AP News, the Academy of Country Music Awards, and other partners.