Cumulus Media (NASDAQ:CMLS) Now Covered by StockNews.com

Equities researchers at StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the stock.

Cumulus Media Stock Performance

NASDAQ:CMLS opened at $0.44 on Friday. The firm’s fifty day simple moving average is $0.76 and its 200 day simple moving average is $0.95. The stock has a market cap of $7.63 million, a P/E ratio of -0.05 and a beta of 1.37. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. Cumulus Media has a twelve month low of $0.41 and a twelve month high of $3.78.

Hedge Funds Weigh In On Cumulus Media

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Garden State Investment Advisory Services LLC purchased a new stake in Cumulus Media during the 3rd quarter valued at about $191,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Cumulus Media in the 3rd quarter worth $25,000. Finally, Zazove Associates LLC grew its stake in shares of 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.