Cumulus Media (NASDAQ:CMLS) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the stock.

Cumulus Media Stock Down 6.9 %

Shares of NASDAQ CMLS opened at $0.47 on Friday. The stock has a market cap of $8.15 million, a PE ratio of -0.05 and a beta of 1.37. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68. Cumulus Media has a 12-month low of $0.41 and a 12-month high of $3.61. The company has a 50-day moving average of $0.72 and a 200 day moving average of $0.90.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Zazove Associates LLC grew its position in 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 acquiring an additional 70,000 shares during the period. Garden State Investment Advisory Services LLC purchased a new stake in Cumulus Media during the third quarter worth about $191,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Cumulus Media during the 3rd quarter worth approximately $25,000. Institutional investors and hedge funds 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.