Cumulus Media (NASDAQ:CMLS) Upgraded by ValuEngine to Sell

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ValuEngine upgraded shares of Cumulus Media (NASDAQ:CMLS) from a strong sell rating to a sell rating in a research report released on Wednesday morning, ValuEngine reports.

Other research analysts have also recently issued research reports about the stock. Noble Financial restated a buy rating and issued a $26.00 target price on shares of Cumulus Media in a research report on Friday, August 9th. Zacks Investment Research cut shares of Cumulus Media from a hold rating to a sell rating in a research report on Thursday, August 22nd. Finally, B. Riley set a $19.00 target price on shares of Cumulus Media and gave the stock a hold rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $20.25.

Shares of NASDAQ:CMLS traded up $0.08 during trading on Wednesday, reaching $13.30. 296 shares of the company’s stock traded hands, compared to its average volume of 68,773. The company has a debt-to-equity ratio of 2.76, a current ratio of 2.81 and a quick ratio of 2.81. Cumulus Media has a 12 month low of $9.70 and a 12 month high of $20.68. The company has a 50 day moving average of $14.78 and a 200-day moving average of $17.00. The stock has a market capitalization of $188.59 million and a P/E ratio of 3.34.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.53. Cumulus Media had a net margin of 8.76% and a return on equity of 20.45%. The business had revenue of $279.67 million during the quarter, compared to the consensus estimate of $284.13 million. Equities research analysts predict that Cumulus Media will post 2.78 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Cumulus Media by 17,182.5% in the second quarter. BlackRock Inc. now owns 686,806 shares of the company’s stock valued at $12,741,000 after acquiring an additional 682,832 shares in the last quarter. Beach Point Capital Management LP boosted its holdings in shares of Cumulus Media by 25.0% in the second quarter. Beach Point Capital Management LP now owns 660,376 shares of the company’s stock valued at $12,250,000 after acquiring an additional 132,006 shares in the last quarter. Zazove Associates LLC boosted its holdings in shares of Cumulus Media by 3.2% in the second quarter. Zazove Associates LLC now owns 495,097 shares of the company’s stock valued at $9,184,000 after acquiring an additional 15,524 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cumulus Media by 18.9% in the second quarter. Vanguard Group Inc. now owns 475,285 shares of the company’s stock valued at $8,816,000 after acquiring an additional 75,667 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Cumulus Media by 30.1% in the second quarter. Russell Investments Group Ltd. now owns 380,176 shares of the company’s stock valued at $7,044,000 after acquiring an additional 87,927 shares in the last quarter.

About Cumulus Media

Cumulus Media Inc owns and operates radio stations in the United States. The company operates through two segments, Cumulus Radio Station Group and Westwood One. It sells broadcasting time on its owned or operated stations to local, regional, and national advertisers; and network advertising. The company offers content through approximately 433 owned-and-operated stations in 88 United States media markets; and approximately 8,000 broadcast radio stations affiliates and various digital channels.

Further Reading: 52-Week High/Low

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