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

StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report released on Wednesday. The firm issued a hold rating on the stock.

Cumulus Media Trading Down 0.3 %

NASDAQ:CMLS opened at $0.52 on Wednesday. The stock’s 50 day moving average price is $0.82 and its 200 day moving average price is $1.04. Cumulus Media has a 52 week low of $0.50 and a 52 week high of $3.95. The company has a market capitalization of $8.87 million, a P/E ratio of -0.06 and a beta of 1.37. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89.

Hedge Funds Weigh In On Cumulus Media

Hedge funds have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in Cumulus Media during the third quarter worth approximately $25,000. Garden State Investment Advisory Services LLC bought a new stake in Cumulus Media during the third quarter worth approximately $191,000. Finally, Zazove Associates LLC boosted its position in Cumulus Media by 4.8% during the fourth quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock worth $1,024,000 after purchasing an additional 70,000 shares during the period. Institutional investors and hedge funds own 48.68% of the company’s stock.

Cumulus Media Company Profile

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.