Cumulus Media Inc. (CMLS) Lifted to Buy at Zacks Investment Research
Cumulus Media Inc. (NASDAQ:CMLS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $0.50 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 14.10% from the company’s current price.
According to Zacks, “Cumulus Media, Inc. is a radio broadcasting company focused on acquiring, operating and developing radio stations in mid-size radio markets in the United States. They provide sales and marketing services under local marketing, management and consulting agreements. “
Separately, Noble Financial restated a “hold” rating on shares of Cumulus Media in a research report on Thursday, May 18th.
Shares of Cumulus Media (NASDAQ:CMLS) traded up 0.7356% during trading on Friday, hitting $0.4382. The company had a trading volume of 103,942 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 $12.84 million. The stock’s 50-day moving average is $0.43 and its 200 day moving average is $0.68.
Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings data on Monday, May 15th. The company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.38. The firm had revenue of $264.03 million during the quarter. Cumulus Media had a negative net margin of 44.30% and a negative return on equity of 216.43%. Equities research analysts predict that Cumulus Media will post ($0.37) earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in CMLS. Q Global Advisors LLC purchased a new stake in shares of Cumulus Media during the first quarter worth approximately $191,000. Renaissance Technologies LLC increased its stake 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. increased its stake 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. Finally, Zazove Associates LLC increased its stake 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. Hedge funds and other institutional investors own 67.01% of the company’s stock.
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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