Cumulus Media (NASDAQ:CMLS) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued on Saturday. The firm set a “hold” rating on the stock.

Cumulus Media Price Performance

CMLS opened at $0.47 on Friday. The company has a debt-to-equity ratio of 3.68, a current ratio of 1.89 and a quick ratio of 1.89. The stock’s 50 day simple moving average is $0.72 and its 200 day simple moving average is $0.90. The firm has a market cap of $8.15 million, a price-to-earnings ratio of -0.05 and a beta of 1.37. Cumulus Media has a 1 year low of $0.41 and a 1 year high of $3.61.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in Cumulus Media during the 3rd quarter valued at $25,000. Zazove Associates LLC increased its position in shares of Cumulus Media by 4.8% in the fourth quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock valued at $1,024,000 after acquiring an additional 70,000 shares during the period. Finally, Garden State Investment Advisory Services LLC bought a new position in shares of Cumulus Media during the third quarter valued at about $191,000. 48.68% of the stock is owned by hedge funds and other institutional investors.

About Cumulus Media

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.