Nimbus Atlas Llc Sells 8,763 Shares of Cumulus Media Inc (NASDAQ:CMLS) Stock

Cumulus Media Inc (NASDAQ:CMLS) major shareholder Nimbus Atlas Llc sold 8,763 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $14.51, for a total transaction of $127,151.13. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Nimbus Atlas Llc also recently made the following trade(s):

  • On Monday, November 4th, Nimbus Atlas Llc sold 9,556 shares of Cumulus Media stock. The stock was sold at an average price of $13.85, for a total transaction of $132,350.60.
  • On Thursday, October 31st, Nimbus Atlas Llc sold 18,500 shares of Cumulus Media stock. The stock was sold at an average price of $13.74, for a total transaction of $254,190.00.

Shares of CMLS stock traded up $0.91 during trading hours on Tuesday, hitting $14.51. 315,600 shares of the company were exchanged, compared to its average volume of 79,711. The firm has a market cap of $193.47 million, a P/E ratio of 3.42 and a beta of 1.57. Cumulus Media Inc has a fifty-two week low of $9.70 and a fifty-two week high of $20.00. The company has a debt-to-equity ratio of 2.76, a quick ratio of 2.81 and a current ratio of 2.81. The company has a 50 day simple moving average of $13.74 and a two-hundred day simple moving average of $15.54.

Cumulus Media (NASDAQ:CMLS) last issued its earnings results on Monday, November 11th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.45. Cumulus Media had a return on equity of 20.45% and a net margin of 8.76%. The company had revenue of $280.81 million for the quarter, compared to analysts’ expectations of $270.00 million. As a group, sell-side analysts expect that Cumulus Media Inc will post 2.82 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Cumulus Media by 52.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,898 shares of the company’s stock worth $69,000 after purchasing an additional 1,344 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Cumulus Media by 16.1% in the 3rd quarter. Rhumbline Advisers now owns 16,276 shares of the company’s stock worth $237,000 after purchasing an additional 2,256 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Cumulus Media by 26.9% in the 2nd quarter. Wells Fargo & Company MN now owns 15,911 shares of the company’s stock worth $295,000 after purchasing an additional 3,370 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Cumulus Media by 255.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,827 shares of the company’s stock worth $108,000 after purchasing an additional 4,189 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Cumulus Media in the 3rd quarter worth $111,000.

CMLS has been the subject of several recent analyst reports. B. Riley set a $19.00 price objective on shares of Cumulus Media and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Zacks Investment Research raised shares of Cumulus Media from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Thursday, October 31st. Noble Financial reaffirmed a “buy” rating and set a $26.00 price objective on shares of Cumulus Media in a research report on Friday, August 9th. Finally, ValuEngine downgraded shares of Cumulus Media from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $18.50.

Cumulus Media Company Profile

Cumulus Media Inc owns and operates radio stations in the United States. The company operates through two segments, Cumulus Radio Station Group and Westwood One. It sells broadcasting time on its owned or operated stations to local, regional, and national advertisers; and network advertising. The company offers content through approximately 433 owned-and-operated stations in 88 United States media markets; and approximately 8,000 broadcast radio stations affiliates and various digital channels.

Further Reading: How to find the components of the quick ratio

Receive News & Ratings for Cumulus Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cumulus Media and related companies with MarketBeat.com's FREE daily email newsletter.