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 reissued a hold rating on shares of Cumulus Media in a research note on Saturday, June 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $0.58.
Shares of Cumulus Media (NASDAQ:CMLS) traded up 0.682% during mid-day trading on Wednesday, hitting $0.325. The stock had a trading volume of 12,787 shares. The company has a 50-day moving average of $0.35 and a 200 day moving average of $0.37. The firm’s market cap is $76.19 million. Cumulus Media has a one year low of $0.18 and a one year high of $0.81.
Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. Cumulus Media had a positive return on equity of 153.83% and a negative net margin of 48.54%. On average, equities research analysts forecast that Cumulus Media will post ($0.05) earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Paloma Partners Management Co purchased a new position in shares of Cumulus Media during the second quarter valued at $158,000. Greywolf Capital Management LP raised its position in shares of Cumulus Media by 26.8% in the second quarter. Greywolf Capital Management LP now owns 12,845,373 shares of the company’s stock valued at $3,982,000 after buying an additional 2,718,900 shares during the last quarter. Scoggin Management LP purchased a new position in shares of Cumulus Media during the second quarter valued at $291,000. Finally, Geode Capital Management LLC raised its position in shares of Cumulus Media by 1.6% in the first quarter. Geode Capital Management LLC now owns 984,569 shares of the company’s stock valued at $457,000 after buying an additional 15,564 shares during the last quarter. 73.08% of the stock is currently owned by institutional investors.
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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