Dimensional Fund Advisors LP cut its stake in shares of Cumulus Media Inc. (NASDAQ:CMLS – Free Report) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 549,773 shares of the company’s stock after selling 40,274 shares during the quarter. Dimensional Fund Advisors LP owned about 3.26% of Cumulus Media worth $1,121,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Empowered Funds LLC purchased a new stake in Cumulus Media in the first quarter valued at $54,000. Quadrature Capital Ltd acquired a new position in shares of Cumulus Media in the fourth quarter worth about $57,000. Balanced Rock Investment Advisors LLC raised its position in shares of Cumulus Media by 12.7% in the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after acquiring an additional 10,228 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Cumulus Media in the first quarter worth about $303,000. Finally, Acadian Asset Management LLC raised its position in shares of Cumulus Media by 3.9% in the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after acquiring an additional 15,920 shares during the period. 48.68% of the stock is owned by hedge funds and other institutional investors.
Cumulus Media Stock Up 4.6 %
CMLS opened at $1.36 on Friday. Cumulus Media Inc. has a twelve month low of $1.25 and a twelve month high of $5.51. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.55. The company has a 50-day moving average price of $1.50 and a 200 day moving average price of $2.12. The company has a market cap of $23.04 million, a PE ratio of -0.16 and a beta of 1.44.
Wall Street Analysts Forecast Growth
Separately, StockNews.com began coverage on shares of Cumulus Media in a research report on Saturday. They set a “hold” rating for the company.
Get Our Latest Stock Analysis on CMLS
Cumulus Media 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.
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