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

StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report released on Sunday morning. The brokerage issued a hold rating on the stock.

Cumulus Media Trading Down 8.7 %

Shares of CMLS stock opened at $0.40 on Friday. Cumulus Media has a 1 year low of $0.36 and a 1 year high of $3.34. The stock has a fifty day moving average of $0.68 and a two-hundred day moving average of $0.86. 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 $6.89 million, a PE ratio of -0.04 and a beta of 1.17.

Hedge Funds Weigh In On Cumulus Media

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zazove Associates LLC boosted its stake in 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 buying an additional 70,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Cumulus Media in the 3rd quarter valued at about $25,000. Finally, Garden State Investment Advisory Services LLC acquired a new stake in Cumulus Media in the 3rd quarter valued at about $191,000. 48.68% of the stock is owned by institutional investors.

Cumulus Media Company Profile

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.