Cumulus Media (NASDAQ:CMLS) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report report published on Wednesday morning. The brokerage issued a hold rating on the stock.

Cumulus Media Trading Down 1.7 %

Shares of CMLS opened at $0.52 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68. The firm has a market capitalization of $8.85 million, a P/E ratio of -0.06 and a beta of 1.37. The stock’s fifty day simple moving average is $0.81 and its 200 day simple moving average is $1.03. Cumulus Media has a twelve month low of $0.50 and a twelve month high of $3.95.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. 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 purchased a new stake in shares of Cumulus Media during the third quarter worth about $191,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Cumulus Media during the third quarter worth about $25,000. 48.68% of the stock is owned by hedge funds and other institutional investors.

Cumulus Media Company Profile

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.