Cumulus Media Inc. (NASDAQ:CMLS) Receives Consensus Rating of “Buy” from Analysts

Cumulus Media Inc. (NASDAQ:CMLSGet Rating) has earned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $23.00.

Several brokerages have recently commented on CMLS. Barrington Research initiated coverage on Cumulus Media in a report on Thursday, May 5th. They set an “outperform” rating and a $21.00 price objective for the company. Zacks Investment Research upgraded shares of Cumulus Media from a “strong sell” rating to a “hold” rating and set a $18.00 target price on the stock in a research report on Thursday, May 5th. B. Riley increased their target price on Cumulus Media from $23.00 to $26.00 in a report on Thursday, February 24th. Finally, StockNews.com started coverage on shares of Cumulus Media in a research report on Tuesday, April 19th. They set a “buy” rating for the company.

Shares of CMLS stock traded down $1.22 during trading hours on Thursday, reaching $13.25. The company had a trading volume of 390,528 shares, compared to its average volume of 101,473. The company has a debt-to-equity ratio of 2.40, a current ratio of 2.89 and a quick ratio of 2.91. The business has a fifty day simple moving average of $11.95 and a 200-day simple moving average of $11.63. Cumulus Media has a 12 month low of $9.42 and a 12 month high of $15.67. The company has a market cap of $273.16 million, a price-to-earnings ratio of 7.91 and a beta of 1.42.

Cumulus Media (NASDAQ:CMLSGet Rating) last issued 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). Cumulus Media had a return on equity of 3.63% and a net margin of 4.04%. The company had revenue of $252.30 million during the quarter, compared to analysts’ expectations of $253.65 million. During the same period last year, the firm posted ($0.01) earnings per share. On average, equities research analysts expect that Cumulus Media will post 2.05 earnings per share for the current year.

In other news, EVP Richard Denning sold 2,500 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $13.71, for a total value of $34,275.00. Following the transaction, the executive vice president now owns 78,252 shares of the company’s stock, valued at approximately $1,072,834.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Edward Milner sold 3,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,104,064.44. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CMLS. Invesco Ltd. boosted its holdings in shares of Cumulus Media by 3.6% in the third quarter. Invesco Ltd. now owns 26,274 shares of the company’s stock worth $322,000 after buying an additional 922 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cumulus Media by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 171,091 shares of the company’s stock valued at $1,924,000 after purchasing an additional 953 shares in the last quarter. BlackRock Inc. boosted its position in shares of Cumulus Media by 0.6% in the first quarter. BlackRock Inc. now owns 188,379 shares of the company’s stock worth $1,874,000 after buying an additional 1,126 shares during the period. Acadian Asset Management LLC raised its position in Cumulus Media by 1.0% during the first quarter. Acadian Asset Management LLC now owns 211,764 shares of the company’s stock valued at $2,105,000 after buying an additional 2,006 shares during the period. Finally, Two Sigma Advisers LP raised its position in Cumulus Media by 5.1% during the third quarter. Two Sigma Advisers LP now owns 45,700 shares of the company’s stock valued at $560,000 after buying an additional 2,200 shares during the period. 70.90% of the stock is currently owned by institutional investors.

Cumulus Media Company Profile (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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