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

StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report released on Saturday. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Down 7.0 %

CMLS stock opened at $0.44 on Friday. The company’s 50-day moving average price is $0.71 and its 200 day moving average price is $0.89. The company has a market cap of $7.58 million, a P/E 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 52 week low of $0.41 and a 52 week high of $3.61.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Garden State Investment Advisory Services LLC acquired a new stake in Cumulus Media during the 3rd quarter valued at $191,000. Zazove Associates LLC increased its stake in shares of Cumulus Media by 4.8% during the 4th quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock valued at $1,024,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Cumulus Media during the third quarter worth approximately $25,000. Hedge funds and other institutional investors 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.