Northern Trust Corp acquired a new position in Cumulus Media Inc (NASDAQ:CMLS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 11,953 shares of the company’s stock, valued at approximately $222,000. Northern Trust Corp owned approximately 0.07% of Cumulus Media as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Cumulus Media by 52.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,898 shares of the company’s stock worth $69,000 after buying an additional 1,344 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Cumulus Media by 255.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,827 shares of the company’s stock valued at $108,000 after purchasing an additional 4,189 shares during the period. Wells Fargo & Company MN grew its stake in shares of Cumulus Media by 26.9% during the 2nd quarter. Wells Fargo & Company MN now owns 15,911 shares of the company’s stock valued at $295,000 after purchasing an additional 3,370 shares during the period. Marshall Wace LLP bought a new stake in shares of Cumulus Media during the 1st quarter valued at about $374,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Cumulus Media during the 2nd quarter valued at about $547,000.

A number of equities research analysts have issued reports on CMLS shares. Zacks Investment Research upgraded Cumulus Media from a “sell” rating to a “hold” rating in a research note on Tuesday. Noble Financial reaffirmed a “buy” rating and set a $26.00 price objective on shares of Cumulus Media in a research report on Friday, August 9th. ValuEngine raised Cumulus Media from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, B. Riley set a $19.00 price objective on Cumulus Media and gave the company a “hold” rating in a research report on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $20.25.

In other news, major shareholder Sp Signal Manager, Llc sold 31,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $14.52, for a total transaction of $450,120.00. 0.64% of the stock is owned by corporate insiders.

Shares of CMLS stock traded up $0.01 during trading hours on Wednesday, reaching $13.60. 5,160 shares of the company traded hands, compared to its average volume of 87,289. Cumulus Media Inc has a 12-month low of $9.70 and a 12-month high of $20.00. The company has a debt-to-equity ratio of 2.76, a current ratio of 2.81 and a quick ratio of 2.81. The company has a market cap of $190.45 million, a P/E ratio of 3.37 and a beta of 1.60. The firm has a 50-day moving average price of $13.72 and a 200 day moving average price of $15.99.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $2.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.53. The company had revenue of $279.67 million for the quarter, compared to analysts’ expectations of $284.13 million. Cumulus Media had a return on equity of 20.45% and a net margin of 8.76%. Sell-side analysts predict that Cumulus Media Inc will post 2.78 EPS for the current year.

Cumulus Media Profile

Cumulus Media Inc owns and operates radio stations in the United States. The company operates through two segments, Cumulus Radio Station Group and Westwood One. It sells broadcasting time on its owned or operated stations to local, regional, and national advertisers; and network advertising. The company offers content through approximately 433 owned-and-operated stations in 88 United States media markets; and approximately 8,000 broadcast radio stations affiliates and various digital channels.

Further Reading: What is a back-end load?

Institutional Ownership by Quarter for Cumulus Media (NASDAQ:CMLS)

Receive News & Ratings for Cumulus Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cumulus Media and related companies with MarketBeat.com's FREE daily email newsletter.