Cumulus Media (NASDAQ:CMLS) Trading Down 2.5% – Time to Sell?

Cumulus Media Inc. (NASDAQ:CMLS)’s stock price dropped 2.5% during trading on Tuesday . The company traded as low as $0.13 and last traded at $0.13. Approximately 4,187 shares traded hands during trading, a decline of 97% from the average daily volume of 162,694 shares. The stock had previously closed at $0.14.

Analyst Ratings Changes

Separately, Wall Street Zen began coverage on shares of Cumulus Media in a report on Friday, May 16th. They issued a “hold” rating on the stock.

Cumulus Media Stock Performance

The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. The company has a market capitalization of $2.32 million, a PE ratio of -0.01 and a beta of 1.31. The business has a 50 day simple moving average of $0.20 and a 200 day simple moving average of $0.54.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($1.88) EPS for the quarter, missing the consensus estimate of ($1.29) by ($0.59). The company had revenue of $187.35 million during the quarter, compared to analysts’ expectations of $190.10 million. Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. Equities research analysts predict that Cumulus Media Inc. will post -2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Cumulus Media

A hedge fund recently raised its stake in Cumulus Media stock. Zazove Associates LLC raised its position in shares of Cumulus Media Inc. (NASDAQ:CMLS) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,528,428 shares of the company’s stock after purchasing an additional 70,000 shares during the quarter. Zazove Associates LLC owned 9.00% of Cumulus Media worth $1,024,000 at the end of the most recent reporting period. 48.68% of the stock is currently owned by institutional investors and hedge funds.

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.