According to Zacks, “Cumulus Media, Inc. is a radio broadcasting company focused on acquiring, operating and developing radio stations in mid-size radio markets in the United States. They provide sales and marketing services under local marketing, management and consulting agreements. “
Separately, Noble Financial reaffirmed a hold rating on shares of Cumulus Media in a report on Saturday, June 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $0.58.
Shares of Cumulus Media (NASDAQ:CMLS) traded down 0.5202% during midday trading on Wednesday, reaching $0.3251. The company’s stock had a trading volume of 78,832 shares. The stock’s market cap is $76.22 million. Cumulus Media has a 52-week low of $0.18 and a 52-week high of $0.81. The stock has a 50-day moving average price of $0.35 and a 200-day moving average price of $0.37.
Cumulus Media (NASDAQ:CMLS) last issued its earnings results on Thursday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. Cumulus Media had a positive return on equity of 153.83% and a negative net margin of 48.54%. Equities research analysts anticipate that Cumulus Media will post ($0.05) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the stock. Greywolf Capital Management LP increased its stake in Cumulus Media by 26.8% in the second quarter. Greywolf Capital Management LP now owns 12,845,373 shares of the company’s stock valued at $3,982,000 after buying an additional 2,718,900 shares in the last quarter. Scoggin Management LP bought a new stake in Cumulus Media during the second quarter valued at $291,000. Paloma Partners Management Co bought a new stake in Cumulus Media during the second quarter valued at $158,000. Finally, Geode Capital Management LLC increased its stake in Cumulus Media by 1.6% in the first quarter. Geode Capital Management LLC now owns 984,569 shares of the company’s stock valued at $457,000 after buying an additional 15,564 shares in the last quarter. 73.08% of the stock is owned by hedge funds and other institutional investors.
About Cumulus Media
Cumulus Media Inc (Cumulus) is a radio broadcasting company. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine and live events. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees.
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