Cumulus Media (NASDAQ:CMLS) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note released on Tuesday morning. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Performance

CMLS opened at $0.90 on Tuesday. The company’s 50 day moving average is $0.83 and its 200 day moving average is $1.07. 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 $15.29 million, a price-to-earnings ratio of -0.10 and a beta of 1.34. Cumulus Media has a 12-month low of $0.63 and a 12-month high of $3.95.

Institutional Investors Weigh In On Cumulus Media

Hedge funds have recently modified their holdings of the business. Y Intercept Hong Kong Ltd bought a new position in Cumulus Media in the 3rd quarter worth $25,000. Garden State Investment Advisory Services LLC purchased a new stake in Cumulus Media in the third quarter worth about $191,000. Finally, Zazove Associates LLC raised its stake in shares of Cumulus Media by 4.8% in the fourth quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock worth $1,024,000 after buying an additional 70,000 shares during the period. 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.