American Century Companies Inc. lowered its stake in shares of Cumulus Media Inc. (NASDAQ:CMLS – Free Report) by 15.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,545 shares of the company’s stock after selling 24,624 shares during the quarter. American Century Companies Inc. owned approximately 0.82% of Cumulus Media worth $283,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. Empowered Funds LLC acquired a new position in Cumulus Media in the first quarter worth $54,000. Quadrature Capital Ltd acquired a new position in Cumulus Media in the fourth quarter worth $57,000. Balanced Rock Investment Advisors LLC boosted its holdings in Cumulus Media by 12.7% in the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after purchasing an additional 10,228 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Cumulus Media in the first quarter worth $303,000. Finally, Acadian Asset Management LLC boosted its holdings in Cumulus Media by 3.9% in the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after purchasing an additional 15,920 shares during the period. Institutional investors and hedge funds own 48.68% of the company’s stock.
Cumulus Media Stock Performance
CMLS stock opened at $1.30 on Friday. The company has a market capitalization of $21.95 million, a P/E ratio of -0.19 and a beta of 1.45. The company has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $2.20. Cumulus Media Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $5.51. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.55.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on shares of Cumulus Media in a research report on Friday. They set a “hold” rating for the company.
View Our Latest Stock Report on Cumulus Media
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.
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