Cumulus Media Inc. (CMLS) Upgraded at Zacks Investment Research
Cumulus Media Inc. (NASDAQ:CMLS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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 report on Thursday, May 18th.
Cumulus Media (CMLS) traded down 2.597% during mid-day trading on Thursday, hitting $0.375. The stock had a trading volume of 151,958 shares. Cumulus Media has a one year low of $0.22 and a one year high of $2.40. The company has a 50 day moving average price of $0.42 and a 200-day moving average price of $0.42. The company’s market cap is $10.99 million.
Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings results on Monday, August 14th. The company reported $0.19 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.19. The company had revenue of $290.53 million during the quarter, compared to analyst estimates of $288.00 million. Equities analysts expect that Cumulus Media will post ($0.37) earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of the stock. Alta Fundamental Advisers LLC acquired a new position in shares of Cumulus Media during the 2nd quarter valued at $321,000. Q Global Advisors LLC acquired a new position in shares of Cumulus Media during the 1st quarter valued at $191,000. Renaissance Technologies LLC lifted its holdings in shares of Cumulus Media by 65.2% during the 1st quarter. Renaissance Technologies LLC now owns 334,805 shares of the company’s stock valued at $107,000 after acquiring an additional 132,100 shares in the last quarter. Zazove Associates LLC lifted its holdings in shares of Cumulus Media by 2.9% during the 1st quarter. Zazove Associates LLC now owns 700,576 shares of the company’s stock valued at $225,000 after acquiring an additional 20,000 shares in the last quarter. Finally, York Capital Management Global Advisors LLC acquired a new position in shares of Cumulus Media during the 3rd quarter valued at $148,000. Institutional investors and hedge funds own 61.72% of the company’s stock.
About Cumulus Media
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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