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

Equities research analysts at StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report released on Monday. The firm set a “hold” rating on the stock.

Cumulus Media Stock Up 6.7 %

CMLS stock opened at $0.91 on Monday. Cumulus Media has a twelve month low of $0.63 and a twelve month high of $4.71. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. The company has a market cap of $15.49 million, a PE ratio of -0.10 and a beta of 1.34. The business’s 50-day simple moving average is $0.81 and its 200 day simple moving average is $1.10.

Institutional Trading of Cumulus Media

Institutional investors and hedge funds have recently modified their holdings of the company. Zazove Associates LLC lifted 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 purchasing an additional 70,000 shares during the period. Garden State Investment Advisory Services LLC bought a new position in Cumulus Media during the 3rd quarter valued at about $191,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Cumulus Media in the third quarter valued at about $25,000. 48.68% of the stock is currently owned by 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.