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

Investment analysts at StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

Cumulus Media Price Performance

Shares of NASDAQ:CMLS opened at $0.41 on Thursday. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. The firm has a fifty day moving average price of $0.80 and a 200 day moving average price of $1.00. Cumulus Media has a fifty-two week low of $0.41 and a fifty-two week high of $3.92. The firm has a market cap of $7.10 million, a price-to-earnings ratio of -0.05 and a beta of 1.37.

Hedge Funds Weigh In On Cumulus Media

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Garden State Investment Advisory Services LLC bought a new position in Cumulus Media during the third quarter valued at $191,000. Zazove Associates LLC lifted its position in Cumulus Media by 4.8% during the fourth 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, Y Intercept Hong Kong Ltd bought a new position in Cumulus Media during the third quarter valued at $25,000. Institutional investors own 48.68% of the company’s stock.

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.