Sigma Planning Corp Cuts Stake in Cumulus Media Inc. (NASDAQ:CMLS)

Sigma Planning Corp lessened its stake in Cumulus Media Inc. (NASDAQ:CMLS) by 54.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,354 shares of the company’s stock after selling 20,751 shares during the quarter. Sigma Planning Corp’s holdings in Cumulus Media were worth $92,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Stokes Family Office LLC purchased a new stake in shares of Cumulus Media during the third quarter valued at approximately $52,000. Acadian Asset Management LLC raised its stake in shares of Cumulus Media by 19.8% in the third quarter. Acadian Asset Management LLC now owns 323,076 shares of the company’s stock worth $1,643,000 after purchasing an additional 53,306 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Cumulus Media by 40.8% during the third quarter. O Shaughnessy Asset Management LLC now owns 28,538 shares of the company’s stock valued at $145,000 after purchasing an additional 8,265 shares in the last quarter. Ancora Advisors LLC increased its holdings in Cumulus Media by 18.6% in the 3rd quarter. Ancora Advisors LLC now owns 64,280 shares of the company’s stock worth $327,000 after buying an additional 10,080 shares in the last quarter. Finally, Aristeia Capital LLC purchased a new position in Cumulus Media in the 3rd quarter worth about $105,000. 48.68% of the stock is owned by hedge funds and other institutional investors.

Cumulus Media Trading Up 1.9 %

Shares of Cumulus Media stock opened at $2.73 on Tuesday. The company has a debt-to-equity ratio of 3.06, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $45.52 million, a PE ratio of -0.39 and a beta of 1.49. Cumulus Media Inc. has a 1-year low of $2.57 and a 1-year high of $6.59. The company’s fifty day simple moving average is $3.37 and its 200-day simple moving average is $4.35.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($2.60) EPS for the quarter, missing the consensus estimate of ($0.59) by ($2.01). The company had revenue of $221.30 million during the quarter, compared to the consensus estimate of $220.07 million. Cumulus Media had a negative return on equity of 17.50% and a negative net margin of 13.96%. As a group, equities analysts anticipate that Cumulus Media Inc. will post -1.76 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Barrington Research lowered shares of Cumulus Media from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 28th. Noble Financial restated a “market perform” rating on shares of Cumulus Media in a research note on Wednesday, February 28th.

About Cumulus Media

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.