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

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

Cumulus Media Price Performance

Cumulus Media stock opened at $0.44 on Friday. 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 company has a market cap of $7.63 million, a price-to-earnings ratio of -0.05 and a beta of 1.37. Cumulus Media has a 12 month low of $0.41 and a 12 month high of $3.78. The business’s 50 day simple moving average is $0.76 and its 200 day simple moving average is $0.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new position in shares of Cumulus Media in the third quarter valued at approximately $25,000. Garden State Investment Advisory Services LLC purchased a new position in shares of Cumulus Media during the 3rd quarter valued at about $191,000. Finally, Zazove Associates LLC raised its stake 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 worth $1,024,000 after acquiring 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.