Cumulus Media (NASDAQ:CMLS) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report sent to investors on Sunday. The brokerage issued a hold rating on the stock.

Cumulus Media Trading Down 8.7 %

Shares of CMLS opened at $0.40 on Friday. The business’s 50-day moving average price is $0.68 and its 200 day moving average price is $0.86. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68. The stock has a market capitalization of $6.89 million, a P/E ratio of -0.04 and a beta of 1.17. Cumulus Media has a 1-year low of $0.36 and a 1-year high of $3.34.

Institutional Investors Weigh In On Cumulus Media

Large investors have recently made changes to their positions in the company. Garden State Investment Advisory Services LLC acquired a new position in Cumulus Media in the 3rd quarter worth approximately $191,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cumulus Media in the third quarter valued at $25,000. Finally, Zazove Associates LLC boosted 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 worth $1,024,000 after buying an additional 70,000 shares during the period. Institutional investors and hedge funds own 48.68% of the company’s stock.

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.