Cumulus Media Inc. (CMLS) Shares Down 31.6%

Cumulus Media Inc. (NASDAQ:CMLS) shares were down 31.6% on Friday . The company traded as low as $0.33 and last traded at $0.29. Approximately 2,062,237 shares traded hands during trading, an increase of 35% from the average daily volume of 1,530,640 shares. The stock had previously closed at $0.43.

A number of research analysts have weighed in on CMLS shares. Zacks Investment Research cut shares of 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.

The company has a debt-to-equity ratio of -4.86, a current ratio of 5.09 and a quick ratio of 5.09.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings data on Monday, August 14th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $290.53 million for the quarter, compared to analysts’ expectations of $288.00 million. research analysts anticipate that Cumulus Media Inc. will post -0.47 earnings per share for the current year.

An institutional investor recently bought a new position in Cumulus Media stock. Alta Fundamental Advisers LLC acquired a new stake in shares of Cumulus Media Inc. (NASDAQ:CMLS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 713,858 shares of the company’s stock, valued at approximately $321,000. Cumulus Media accounts for about 0.3% of Alta Fundamental Advisers LLC’s investment portfolio, making the stock its 21st largest position. Alta Fundamental Advisers LLC owned approximately 2.44% of Cumulus Media as of its most recent SEC filing. Institutional investors and hedge funds own 61.71% of the company’s stock.

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Cumulus Media Company Profile

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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