Insider Buying: Lewis W. Dickey, Jr. Purchases 25,000 Shares of Cumulus Media Stock (CMLS)
Cumulus Media (NASDAQ:CMLS) CEO Lewis W. Dickey, Jr. purchased 25,000 shares of Cumulus Media stock on the open market in a transaction dated Friday, August 8th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $107,250.00. Following the purchase, the chief executive officer now directly owns 3,465,726 shares of the company’s stock, valued at approximately $14,867,965. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Cumulus Media (NASDAQ:CMLS) traded up 5.90% during mid-day trading on Friday, hitting $4.49. 3,671,150 shares of the company’s stock traded hands. Cumulus Media has a 52 week low of $4.15 and a 52 week high of $8.19. 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 $977.2 million and a P/E ratio of 5.93.
Cumulus Media (NASDAQ:CMLS) last released its earnings data on Wednesday, August 6th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters 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 quarterly revenue was up 21.4% on a year-over-year basis. Analysts expect that Cumulus Media will post $0.39 EPS for the current fiscal year.
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.
Cumulus Media Inc (NASDAQ:CMLS) owns and operates commercial radio station clusters throughout the United States.
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