Cumulus Media Inc (CMLS) Stock Rating Reaffirmed by Noble Financial
Cumulus Media Inc (NASDAQ:CMLS)‘s stock had its “hold” rating restated by equities research analysts at Noble Financial in a research report issued on Thursday.
Separately, Zacks Investment Research raised Cumulus Media from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a research note on Thursday.
Cumulus Media (NASDAQ:CMLS) traded down 1.376% during mid-day trading on Thursday, reaching $0.344. The company’s stock had a trading volume of 38,201 shares. Cumulus Media has a 52 week low of $0.22 and a 52 week high of $3.60. The firm’s market capitalization is $10.08 million. The firm’s 50 day moving average price is $0.30 and its 200 day moving average price is $0.80.
Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings results on Monday, May 15th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.38. The firm had revenue of $264.03 million during the quarter. Cumulus Media had a negative return on equity of 216.43% and a net margin of 2.46%. On average, analysts anticipate that Cumulus Media will post ($0.85) EPS for the current fiscal year.
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A number of institutional investors have recently modified their holdings of CMLS. York Capital Management Global Advisors LLC purchased a new position in shares of Cumulus Media during the third quarter worth about $148,000. Renaissance Technologies LLC raised its position in shares of Cumulus Media by 65.2% in the first quarter. Renaissance Technologies LLC now owns 334,805 shares of the company’s stock worth $107,000 after buying an additional 132,100 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Cumulus Media by 2.8% in the first quarter. Vanguard Group Inc. now owns 576,260 shares of the company’s stock worth $185,000 after buying an additional 15,800 shares during the last quarter. Q Global Advisors LLC purchased a new position in shares of Cumulus Media during the first quarter worth about $191,000. Finally, Zazove Associates LLC raised its position in shares of Cumulus Media by 2.9% in the first quarter. Zazove Associates LLC now owns 700,576 shares of the company’s stock worth $225,000 after buying an additional 20,000 shares during the last quarter.
Cumulus Media Company Profile
Cumulus Media Inc (Cumulus) is a radio broadcasting company. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine and live events. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees.
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