Cumulus Media Stock Price Up 5% After Insider Buying Activity (CMLS)
Cumulus Media (NASDAQ:CMLS) rose 5% during trading on Friday following insider buying activity, StockRatingsNetwork reports. The company traded as high as $4.67 and last traded at $4.45, with a volume of 2,794,553 shares traded. The stock had previously closed at $4.24.
Specifically, CEO Lewis W. Dickey, Jr. acquired 25,000 shares of Cumulus Media stock on the open market in a transaction dated Friday, August 8th. The stock was purchased at an average price of $4.29 per share, for a total transaction of $107,250.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Sidoti initiated coverage on shares of Cumulus Media in a research note on Thursday, June 19th. They set a “buy” rating on the stock.
The stock’s 50-day moving average is $5.94 and its 200-day moving average is $6.39. The company has a market cap of $975.1 million and a P/E ratio of 5.93.
Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.07. The company had revenue of $328.20 million for the quarter, compared to the consensus estimate of $330.55 million. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, analysts predict that Cumulus Media will post $0.39 earnings per share 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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