StockNews.com Begins Coverage on Cumulus Media (NASDAQ:CMLS)

StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Down 1.1 %

Cumulus Media stock opened at $0.87 on Tuesday. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. The firm has a market capitalization of $14.79 million, a price-to-earnings ratio of -0.10 and a beta of 1.34. Cumulus Media has a fifty-two week low of $0.63 and a fifty-two week high of $4.71. The stock’s fifty day moving average is $0.83 and its two-hundred day moving average is $1.07.

Institutional Trading of Cumulus Media

A number of large investors have recently made changes to their positions in CMLS. Garden State Investment Advisory Services LLC acquired a new stake in shares of Cumulus Media during the third quarter valued at $191,000. Zazove Associates LLC boosted its stake in shares of Cumulus Media by 4.8% during the fourth quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock valued at $1,024,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Cumulus Media during the third quarter valued at $25,000. Institutional investors and hedge funds own 48.68% of the company’s stock.

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.