Cumulus Media (NASDAQ:CMLS) Upgraded to Sell by ValuEngine

ValuEngine upgraded shares of Cumulus Media (NASDAQ:CMLS) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

A number of other analysts have also recently weighed in on the company. Zacks Investment Research upgraded Cumulus Media from a hold rating to a buy rating and set a $15.00 price target on the stock in a research report on Thursday, October 31st. Noble Financial restated a buy rating and issued a $26.00 target price on shares of Cumulus Media in a research note on Wednesday, November 13th. TheStreet raised shares of Cumulus Media from a d+ rating to a c- rating in a report on Thursday, November 21st. Finally, B. Riley set a $19.00 price objective on shares of Cumulus Media and gave the stock a hold rating in a research note on Wednesday, August 21st. One 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. Cumulus Media presently has a consensus rating of Hold and an average target price of $18.50.

NASDAQ:CMLS opened at $17.34 on Tuesday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 2.37 and a current ratio of 2.37. The company has a 50-day moving average of $14.62 and a 200-day moving average of $15.38. Cumulus Media has a 52 week low of $9.70 and a 52 week high of $20.00. The company has a market capitalization of $269.84 million, a price-to-earnings ratio of 4.21 and a beta of 1.76.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings data on Monday, November 11th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.45. The company had revenue of $280.81 million for the quarter, compared to the consensus estimate of $270.00 million. Cumulus Media had a return on equity of 19.99% and a net margin of 9.09%. Sell-side analysts forecast that Cumulus Media will post 2.82 EPS for the current year.

In other news, major shareholder Nimbus Atlas Llc sold 18,500 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $13.74, for a total transaction of $254,190.00. Also, major shareholder Sp Signal Manager, Llc sold 31,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $14.52, for a total value of $450,120.00. In the last three months, insiders sold 70,472 shares of company stock valued at $1,002,386. 0.64% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Beach Point Capital Management LP boosted its stake in shares of Cumulus Media by 6.8% in the 3rd quarter. Beach Point Capital Management LP now owns 705,000 shares of the company’s stock valued at $10,251,000 after purchasing an additional 44,624 shares during the last quarter. BlackRock Inc. raised its stake in shares of Cumulus Media by 17,182.5% during the second quarter. BlackRock Inc. now owns 686,806 shares of the company’s stock worth $12,741,000 after buying an additional 682,832 shares during the last quarter. Zazove Associates LLC raised its stake in shares of Cumulus Media by 34.5% during the third quarter. Zazove Associates LLC now owns 666,124 shares of the company’s stock worth $9,695,000 after buying an additional 171,027 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Cumulus Media by 18.9% in the second quarter. Vanguard Group Inc. now owns 475,285 shares of the company’s stock valued at $8,816,000 after buying an additional 75,667 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Cumulus Media by 30.1% in the second quarter. Russell Investments Group Ltd. now owns 380,176 shares of the company’s stock valued at $7,044,000 after buying an additional 87,927 shares during the period. Hedge funds and other institutional investors own 96.44% of the company’s stock.

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.

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