Cumulus Media Inc. (CMLS) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Cumulus Media Inc. (NASDAQ:CMLS) from a sell rating to a hold rating in a research report released on Thursday.

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 restated a hold rating on shares of Cumulus Media in a research report on Tuesday, August 15th.

Shares of Cumulus Media (CMLS) opened at 0.3495 on Thursday. Cumulus Media has a one year low of $0.22 and a one year high of $2.40. The stock’s market cap is $10.24 million. The firm has a 50-day moving average price of $0.41 and a 200-day moving average price of $0.41.

Cumulus Media (NASDAQ:CMLS) last posted its earnings results on Monday, August 14th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $290.53 million during the quarter, compared to the consensus estimate of $288.00 million. Analysts anticipate that Cumulus Media will post ($0.37) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in Cumulus Media by 65.2% in the 1st quarter. Renaissance Technologies LLC now owns 334,805 shares of the company’s stock worth $107,000 after purchasing an additional 132,100 shares during the last quarter. Q Global Advisors LLC bought a new position in Cumulus Media in the 1st quarter worth about $191,000. Finally, Alta Fundamental Advisers LLC bought a new position in Cumulus Media in the 2nd quarter worth about $321,000. Hedge funds and other institutional investors own 61.72% 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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