Cumulus Media (NASDAQ:CMLS) Shares Down 5.5%

Shares of Cumulus Media Inc. (NASDAQ:CMLSGet Free Report) traded down 5.5% during mid-day trading on Monday . The stock traded as low as $2.18 and last traded at $2.24. 25,654 shares traded hands during trading, a decline of 58% from the average session volume of 61,368 shares. The stock had previously closed at $2.37.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Noble Financial reissued a “market perform” rating on shares of Cumulus Media in a report on Wednesday, February 28th. Barrington Research lowered Cumulus Media from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 28th.

Check Out Our Latest Research Report on CMLS

Cumulus Media Stock Performance

The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 3.22. The stock has a fifty day moving average of $2.74 and a 200-day moving average of $3.85. The stock has a market cap of $37.83 million, a PE ratio of -0.33 and a beta of 1.52.

Cumulus Media (NASDAQ:CMLSGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. The company reported ($0.85) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.48. Cumulus Media had a negative return on equity of 16.78% and a negative net margin of 13.18%. The company had revenue of $200.05 million for the quarter, compared to analyst estimates of $200.30 million. On average, equities analysts forecast that Cumulus Media Inc. will post -1.86 EPS for the current year.

Institutional Investors Weigh In On Cumulus Media

A number of institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC boosted its holdings in Cumulus Media by 40.8% in the 3rd 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 boosted 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 valued at $327,000 after purchasing an additional 10,080 shares in the last quarter. Stokes Family Office LLC purchased a new stake in Cumulus Media in the 3rd quarter valued at approximately $52,000. Quadrature Capital Ltd purchased a new stake in Cumulus Media in the 4th quarter valued at approximately $57,000. Finally, Empowered Funds LLC purchased a new stake in Cumulus Media in the 1st quarter valued at approximately $54,000. Hedge funds and other institutional investors own 48.68% of the company’s stock.

About Cumulus Media

(Get Free Report)

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.

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