Cumulus Media Inc. (CMLS) Upgraded to Hold by Zacks Investment Research
Cumulus Media Inc. (NASDAQ:CMLS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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 reiterated a “hold” rating on shares of Cumulus Media in a report on Tuesday, August 15th.
Cumulus Media (NASDAQ:CMLS) traded down 2.30% during trading on Tuesday, hitting $0.31. The stock had a trading volume of 77,988 shares. Cumulus Media has a one year low of $0.22 and a one year high of $2.06. The stock has a 50 day moving average of $0.36 and a 200 day moving average of $0.39. The firm’s market capitalization is $9.08 million.
Cumulus Media (NASDAQ:CMLS) last released its earnings results on Monday, August 14th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $290.53 million for the quarter, compared to analyst estimates of $288.00 million. Equities research analysts expect that Cumulus Media will post ($0.37) earnings per share for the current fiscal year.
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A number of large investors have recently made changes to their positions in CMLS. Renaissance Technologies LLC boosted its holdings in Cumulus Media by 65.2% in the first quarter. Renaissance Technologies LLC now owns 334,805 shares of the company’s stock worth $107,000 after acquiring an additional 132,100 shares in the last quarter. Q Global Advisors LLC bought a new position in Cumulus Media in the first quarter worth approximately $191,000. Finally, Alta Fundamental Advisers LLC bought a new position in Cumulus Media in the second quarter worth approximately $321,000. Institutional investors and hedge funds own 61.72% of the company’s stock.
Cumulus Media Company Profile
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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