Cumulus Media (NASDAQ:CMLS) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report sent to investors on Monday morning. The firm issued a hold rating on the stock.

Cumulus Media Stock Down 4.8 %

CMLS opened at $0.29 on Monday. The stock has a market capitalization of $5.05 million, a price-to-earnings ratio of -0.03 and a beta of 1.17. The firm has a 50 day moving average price of $0.59 and a 200-day moving average price of $0.80. Cumulus Media has a twelve month low of $0.27 and a twelve month high of $3.34. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68.

Hedge Funds Weigh In On Cumulus Media

A number of institutional investors and hedge funds have recently modified their holdings of the company. Garden State Investment Advisory Services LLC bought a new position in Cumulus Media in the third quarter valued at about $191,000. Y Intercept Hong Kong Ltd bought a new position in shares of Cumulus Media in the 3rd quarter worth approximately $25,000. Finally, Zazove Associates LLC boosted its holdings in shares of Cumulus Media by 4.8% in the fourth quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock worth $1,024,000 after buying an additional 70,000 shares during the last quarter. 48.68% of the stock is currently owned by hedge funds and other institutional investors.

About Cumulus Media

Cumulus Media Inc, an audio-first media company, owns and operates radio stations in the United States. It owns and operates stations in various markets, as well as affiliated stations through Westwood One. The company's content portfolio includes sports, news, talk, and entertainment programming from various brands, including the NFL, the NCAA, the Masters, CNN, AP News, the Academy of Country Music Awards, and other partners.