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

Equities researchers at StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report issued on Wednesday. The firm set a “hold” rating on the stock.

Cumulus Media Price Performance

Shares of NASDAQ CMLS opened at $0.52 on Wednesday. The stock has a market cap of $8.90 million, a price-to-earnings ratio of -0.06 and a beta of 1.37. Cumulus Media has a 52 week low of $0.50 and a 52 week high of $3.95. The company’s 50-day moving average price is $0.83 and its 200 day moving average price is $1.04. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68.

Institutional Investors Weigh In On Cumulus Media

Hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Cumulus Media during the 3rd quarter worth about $25,000. Garden State Investment Advisory Services LLC acquired a new stake in shares of Cumulus Media during the 3rd quarter worth about $191,000. Finally, Zazove Associates LLC boosted its stake in shares of Cumulus Media by 4.8% during the 4th quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock worth $1,024,000 after purchasing an additional 70,000 shares during the last quarter. 48.68% of the stock is 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.