Cumulus Media Inc. (NASDAQ:CMLS) Upgraded by Zacks Investment Research to Hold

Cumulus Media Inc. (NASDAQ:CMLS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, October 17th.

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 research report on Tuesday, August 15th.

Shares of Cumulus Media (CMLS) traded down $0.03 during trading hours on Tuesday, reaching $0.28. The company’s stock had a trading volume of 1,097,386 shares, compared to its average volume of 1,638,317. The company has a debt-to-equity ratio of -4.86, a current ratio of 5.09 and a quick ratio of 5.09. Cumulus Media has a 12-month low of $0.22 and a 12-month high of $1.61.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings results on Monday, August 14th. The company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The company had revenue of $290.53 million during the quarter, compared to the consensus estimate of $288.00 million. sell-side analysts expect that Cumulus Media will post -0.47 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in Cumulus Media by 65.2% in the first quarter. Renaissance Technologies LLC now owns 334,805 shares of the company’s stock valued at $107,000 after acquiring an additional 132,100 shares during the last quarter. Q Global Advisors LLC bought a new position in Cumulus Media in the first quarter valued at about $191,000. Finally, Alta Fundamental Advisers LLC bought a new position in Cumulus Media in the second quarter valued at about $321,000. Institutional investors own 61.71% of the company’s stock.

Cumulus Media Company Profile

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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