Cumulus Media Inc. (CMLS) Downgraded to Sell at Zacks Investment Research
Cumulus Media Inc. (NASDAQ:CMLS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
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 reiterated a “hold” rating on shares of Cumulus Media in a research note on Thursday, May 18th.
Shares of Cumulus Media (CMLS) traded down 1.17% during trading on Thursday, hitting $0.43. 286,113 shares of the stock traded hands. Cumulus Media has a 1-year low of $0.22 and a 1-year high of $3.28. The stock has a 50 day moving average price of $0.43 and a 200-day moving average price of $0.50. The stock’s market cap is $12.60 million.
Cumulus Media (NASDAQ:CMLS) last released its earnings results on Monday, August 14th. The company reported $0.19 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.19. The business had revenue of $290.53 million for the quarter, compared to the consensus estimate of $288 million. Equities analysts forecast that Cumulus Media will post ($0.37) EPS for the current year.
ILLEGAL ACTIVITY WARNING: “Cumulus Media Inc. (CMLS) Downgraded to Sell at Zacks Investment Research” was first posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/08/17/cumulus-media-inc-cmls-downgraded-to-sell-at-zacks-investment-research.html.
A number of large investors have recently made changes to their positions in CMLS. Renaissance Technologies LLC boosted 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 in the last quarter. Q Global Advisors LLC purchased a new stake in shares of Cumulus Media during the first quarter worth about $191,000. Zazove Associates LLC boosted 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 in the last quarter. Finally, Alta Fundamental Advisers LLC purchased a new stake in shares of Cumulus Media during the second quarter worth about $321,000. Institutional investors and hedge funds own 66.53% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cumulus Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cumulus Media Inc. and related companies with MarketBeat.com's FREE daily email newsletter.