Greywolf Capital Management LP held its position in Cumulus Media Inc. (NASDAQ:CMLS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,500,000 shares of the company’s stock at the end of the 2nd quarter. Cumulus Media makes up about 0.4% of Greywolf Capital Management LP’s portfolio, making the stock its 8th largest position. Greywolf Capital Management LP owned about 8.53% of Cumulus Media worth $1,125,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CMLS. Renaissance Technologies LLC lifted its position in shares of Cumulus Media by 65.2% in the first quarter. Renaissance Technologies LLC now owns 334,805 shares of the company’s stock valued at $107,000 after buying an additional 132,100 shares during the last quarter. Q Global Advisors LLC acquired a new stake in shares of Cumulus Media in the first quarter valued at approximately $191,000. Finally, Alta Fundamental Advisers LLC acquired a new stake in shares of Cumulus Media in the second quarter valued at approximately $321,000. 61.72% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on CMLS shares. Zacks Investment Research cut Cumulus Media from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Noble Financial reaffirmed a “hold” rating on shares of Cumulus Media in a research report on Tuesday, August 15th.
Cumulus Media (NASDAQ:CMLS) last announced its earnings results on Monday, August 14th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $290.53 million during the quarter, compared to analysts’ expectations of $288.00 million. Analysts expect that Cumulus Media Inc. will post ($0.37) earnings per share for the current year.
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About Cumulus Media
Cumulus Media Inc (Cumulus) is a radio broadcasting company. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine and live events. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees.
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