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

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

Cumulus Media Price Performance

NASDAQ CMLS opened at $0.32 on Friday. 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 $0.32 and a 12 month high of $3.34. The stock has a market cap of $5.57 million, a price-to-earnings ratio of -0.04 and a beta of 1.17. The company’s 50 day moving average is $0.64 and its two-hundred day moving average is $0.84.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Cumulus Media during the third quarter valued at about $25,000. Garden State Investment Advisory Services LLC purchased a new stake in shares of Cumulus Media during the third quarter worth about $191,000. Finally, Zazove Associates LLC raised its stake in 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 purchasing an additional 70,000 shares during the period. 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.