Cumulus Media Inc. (NASDAQ:CMLS) Receives $24.67 Average Target Price from Analysts

Shares of Cumulus Media Inc. (NASDAQ:CMLS – Get Rating) have received a consensus recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $24.67.

CMLS has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Cumulus Media in a research report on Tuesday, April 19th. They set a “buy” rating on the stock. B. Riley lifted their price target on shares of Cumulus Media from $23.00 to $26.00 in a research report on Thursday, February 24th. Barrington Research initiated coverage on shares of Cumulus Media in a research report on Thursday. They set an “outperform” rating and a $21.00 price target on the stock. Finally, Zacks Investment Research raised shares of Cumulus Media from a “strong sell” rating to a “hold” rating in a research report on Thursday.

In other news, EVP Richard Denning sold 2,500 shares of the business’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $13.71, for a total value of $34,275.00. Following the completion of the sale, the executive vice president now owns 78,252 shares of the company’s stock, valued at approximately $1,072,834.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Edward Milner sold 3,000 shares of the stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $13.62, for a total transaction of $40,860.00. Following the transaction, the insider now directly owns 81,062 shares in the company, valued at approximately $1,104,064.44. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CMLS. BNP Paribas Arbitrage SA increased its holdings in shares of Cumulus Media by 2,355.0% in the 4th quarter. BNP Paribas Arbitrage SA now owns 4,198 shares of the company’s stock valued at $47,000 after acquiring an additional 4,027 shares during the last quarter. Ancora Advisors LLC acquired a new position in Cumulus Media in the third quarter worth $109,000. Morgan Stanley bought a new stake in Cumulus Media during the first quarter valued at $136,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Cumulus Media during the third quarter worth $149,000. Finally, Raymond James & Associates bought a new position in shares of Cumulus Media in the 4th quarter worth about $175,000. 70.90% of the stock is currently owned by institutional investors.

Cumulus Media stock opened at $15.44 on Thursday. Cumulus Media has a 1 year low of $9.42 and a 1 year high of $15.67. The firm has a 50 day moving average price of $11.74 and a 200 day moving average price of $11.59. The company has a market cap of $318.37 million, a price-to-earnings ratio of 8.44 and a beta of 1.42. The company has a debt-to-equity ratio of 2.43, a quick ratio of 2.91 and a current ratio of 2.91.

Cumulus Media (NASDAQ:CMLS – Get Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.53). The business had revenue of $252.30 million for the quarter, compared to analyst estimates of $253.65 million. Cumulus Media had a net margin of 4.04% and a return on equity of 3.68%. During the same period last year, the firm earned ($0.01) earnings per share. Sell-side analysts predict that Cumulus Media will post 1.87 EPS for the current year.

About Cumulus Media (Get Rating)

Cumulus Media Inc, an audio-first media company, owns and operates radio stations in the United States. It owns and operates 406 stations in 86 markets, as well as approximately 9,500 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, the AP, the Academy of Country Music Awards, and other partners.

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