Insider Selling: Cumulus Media Director Sells 200,000 Shares of Stock (CMLS)
Cumulus Media (NASDAQ:CMLS) Director Ba Capital Co Lp unloaded 200,000 shares of the stock on the open market in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $7.61, for a total value of $1,522,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Ascendiant Capital Markets initiated coverage on shares of Cumulus Media in a research note to investors on Tuesday, December 24th. They set a “buy” rating on the stock. Separately, analysts at Noble Financial raised their price target on shares of Cumulus Media from $8.00 to $9.00 in a research note to investors on Tuesday, December 17th. Finally, analysts at Thomson Reuters/Verus upgraded shares of Cumulus Media from a “sell” rating to a “hold” rating in a research note to investors on Monday, December 9th.
Shares of Cumulus Media (NASDAQ:CMLS) traded up 3.36% during mid-day trading on Thursday, hitting $7.99. 1,376,021 shares of the company’s stock traded hands. Cumulus Media has a one year low of $2.61 and a one year high of $7.79. The stock’s 50-day moving average is $6. and its 200-day moving average is $5.33. The company’s market cap is $1.639 billion.
Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by $0.09. The company had revenue of $281.07 million for the quarter, compared to the consensus estimate of $280.51 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. Analysts expect that Cumulus Media will post $0.17 EPS for the current fiscal year.
Cumulus Media Inc (NASDAQ:CMLS) owns and operates commercial radio station clusters throughout the United States.
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