Cumulus Media Inc. (CMLS) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Cumulus Media Inc. (NASDAQ:CMLS) from a sell rating to a hold rating in a research note published on Monday morning.
According to Zacks, “Cumulus Media, Inc. is a radio broadcasting company focused on acquiring, operating and developing radio stations in mid-size radio markets in the United States. They provide sales and marketing services under local marketing, management and consulting agreements. “
Separately, Noble Financial reissued a hold rating on shares of Cumulus Media in a report on Tuesday, August 15th.
Cumulus Media (CMLS) traded up 5.0606% during mid-day trading on Monday, hitting $0.3467. The stock had a trading volume of 606,336 shares. The firm’s market cap is $10.16 million. Cumulus Media has a 12-month low of $0.22 and a 12-month high of $2.40. The stock has a 50-day moving average price of $0.38 and a 200 day moving average price of $0.39.
Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings results on Monday, August 14th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $290.53 million during the quarter, compared to analyst estimates of $288.00 million. Equities analysts anticipate that Cumulus Media will post ($0.37) EPS for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in shares of Cumulus Media by 65.2% in the 1st quarter. Renaissance Technologies LLC now owns 334,805 shares of the company’s stock valued at $107,000 after buying an additional 132,100 shares during the period. Q Global Advisors LLC acquired a new stake in shares of Cumulus Media in the 1st quarter valued at approximately $191,000. Finally, Alta Fundamental Advisers LLC acquired a new stake in shares of Cumulus Media in the 2nd quarter valued at approximately $321,000. 61.72% of the stock is owned by institutional investors and hedge funds.
About Cumulus Media
Cumulus Media Inc (Cumulus) is a radio broadcasting company. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine and live events. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees.
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