Zacks Investment Research downgraded shares of Cumulus Media Inc. (NASDAQ:CMLS) from a buy rating to a hold rating in a research report released on Tuesday, July 18th.
According to Zacks, “Cumulus Media, Inc. is a radio broadcasting company focused on acquiring, operating and developing radio stations in mid-size radio markets in the United States. They provide sales and marketing services under local marketing, management and consulting agreements. “
Separately, Noble Financial reiterated a hold rating on shares of Cumulus Media in a report on Thursday, May 18th.
Shares of Cumulus Media (CMLS) traded up 0.3333% during trading on Tuesday, reaching $0.4214. 29,540 shares of the company were exchanged. The firm’s 50 day moving average price is $0.44 and its 200 day moving average price is $0.54. The company’s market capitalization is $12.35 million. Cumulus Media has a one year low of $0.22 and a one year high of $3.28.
Cumulus Media (NASDAQ:CMLS) last issued its earnings results on Monday, May 15th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.38. The firm had revenue of $264.03 million during the quarter. Equities research analysts forecast that Cumulus Media will post ($0.37) earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Zazove Associates LLC raised its stake in Cumulus Media by 2.9% in the first quarter. Zazove Associates LLC now owns 700,576 shares of the company’s stock worth $225,000 after buying an additional 20,000 shares during the last quarter. Renaissance Technologies LLC raised its stake in Cumulus Media by 65.2% in the first quarter. Renaissance Technologies LLC now owns 334,805 shares of the company’s stock worth $107,000 after buying an additional 132,100 shares during the last quarter. Finally, Q Global Advisors LLC bought a new stake in Cumulus Media during the first quarter worth approximately $191,000. 67.01% of the stock is owned by institutional investors and hedge funds.
About Cumulus Media
Cumulus Media Inc (Cumulus) is a radio broadcasting company. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine and live events. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees.
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