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

StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report issued on Monday. The firm set a “hold” rating on the stock.

Cumulus Media Trading Down 5.0 %

NASDAQ:CMLS opened at $0.86 on Monday. Cumulus Media has a 12-month low of $0.63 and a 12-month high of $4.71. The firm has a market cap of $14.53 million, a PE ratio of -0.09 and a beta of 1.34. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68. The stock has a fifty day moving average price of $0.81 and a 200 day moving average price of $1.10.

Hedge Funds Weigh In On Cumulus Media

Institutional investors and hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new stake in Cumulus Media in the third quarter valued at approximately $25,000. Zazove Associates LLC increased its position in shares of Cumulus Media by 4.8% in the 4th 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 during the last quarter. Finally, Garden State Investment Advisory Services LLC acquired a new stake in shares of Cumulus Media in the 3rd quarter valued at $191,000. 48.68% of the stock is owned by institutional investors and hedge funds.

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.