Cumulus Media (NASDAQ:CMLS) Coverage Initiated at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a note issued to investors on Saturday. The firm set a “hold” rating on the stock.

Cumulus Media Price Performance

NASDAQ:CMLS opened at $0.47 on Friday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. Cumulus Media has a 52 week low of $0.41 and a 52 week high of $3.61. The stock’s 50-day moving average price is $0.72 and its 200-day moving average price is $0.90. The stock has a market capitalization of $8.15 million, a PE ratio of -0.05 and a beta of 1.37.

Hedge Funds Weigh In On Cumulus Media

A number of large investors have recently added to or reduced their stakes in CMLS. Zazove Associates LLC grew its position in shares of Cumulus Media by 4.8% in the fourth quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock valued at $1,024,000 after purchasing an additional 70,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Cumulus Media in the 3rd quarter valued at about $25,000. Finally, Garden State Investment Advisory Services LLC acquired a new stake in Cumulus Media in the 3rd quarter worth about $191,000. 48.68% of the stock is currently owned by institutional investors and hedge funds.

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.