StockNews.com Begins Coverage on Cumulus Media (NASDAQ:CMLS)

Analysts at StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report issued on Tuesday. The brokerage set a “hold” rating on the stock.

Cumulus Media Price Performance

Shares of Cumulus Media stock opened at $0.90 on Tuesday. The business has a 50 day simple moving average of $0.83 and a two-hundred day simple moving average of $1.07. The company has a debt-to-equity ratio of 3.68, a current ratio of 1.89 and a quick ratio of 1.89. The stock has a market capitalization of $15.34 million, a P/E 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 Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Zazove Associates LLC raised 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 valued at $1,024,000 after purchasing an additional 70,000 shares during the period. Garden State Investment Advisory Services LLC acquired a new stake in Cumulus Media in the third quarter valued at $191,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Cumulus Media in the third quarter valued at 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.