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

Research analysts at StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report issued on Friday. The brokerage set a “hold” rating on the stock.

Cumulus Media Price Performance

Shares of CMLS stock opened at $0.45 on Friday. The stock has a market cap of $7.78 million, a price-to-earnings ratio of -0.05 and a beta of 1.37. The business’s fifty day moving average is $0.75 and its 200 day moving average is $0.94. Cumulus Media has a twelve month low of $0.41 and a twelve month high of $3.72. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68.

Institutional Investors Weigh In On Cumulus Media

Several hedge funds have recently added to or reduced their stakes in CMLS. Garden State Investment Advisory Services LLC bought a new stake in Cumulus Media in the third quarter worth $191,000. Y Intercept Hong Kong Ltd bought a new stake in Cumulus Media in the third quarter worth $25,000. Finally, Zazove Associates LLC lifted its holdings 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 purchasing an additional 70,000 shares in the last quarter. 48.68% of the stock is owned by 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.