Cumulus Media Inc (CMLS) Given Consensus Rating of “Strong Buy” by Brokerages

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Shares of Cumulus Media Inc (NASDAQ:CMLS) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus price objective of $18.00 for the company and are forecasting that the company will post $0.70 EPS for the current quarter, according to Zacks. Zacks has also assigned Cumulus Media an industry rank of 96 out of 255 based on the ratings given to its competitors.

CMLS has been the topic of several recent analyst reports. Noble Financial upgraded shares of Cumulus Media from a “market perform” rating to an “outperform” rating in a report on Monday, December 17th. ValuEngine upgraded shares of Cumulus Media from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Wolfe Research initiated coverage on shares of Cumulus Media in a report on Friday, December 7th. They issued a “market perform” rating and a $14.00 price target on the stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CMLS. Beach Point Capital Management LP purchased a new position in Cumulus Media in the fourth quarter valued at approximately $6,067,000. Zazove Associates LLC raised its holdings in Cumulus Media by 44.3% in the fourth quarter. Zazove Associates LLC now owns 394,666 shares of the company’s stock valued at $4,341,000 after buying an additional 121,068 shares during the period. Neuberger Berman Group LLC purchased a new position in Cumulus Media in the third quarter valued at approximately $1,698,000. NYL Investors LLC purchased a new position in Cumulus Media in the fourth quarter valued at approximately $710,000. Finally, Stone Harbor Investment Partners LP raised its holdings in Cumulus Media by 28.5% in the fourth quarter. Stone Harbor Investment Partners LP now owns 78,987 shares of the company’s stock valued at $857,000 after buying an additional 17,504 shares during the period. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Shares of CMLS stock traded up $0.13 during trading hours on Thursday, hitting $19.09. 144,700 shares of the company were exchanged, compared to its average volume of 35,496. Cumulus Media has a 1 year low of $9.70 and a 1 year high of $26.00. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 3.73.

About Cumulus Media

Cumulus Media Inc owns and operates radio stations in the United States. The company operates through Radio Station Group and Westwood One segments. It sells commercial advertising time to local, regional, and national advertisers; and network advertising. The company offers content through approximately 445 owned-and-operated stations in 90 United States media markets; and approximately 8,000 broadcast radio stations affiliates and various digital channels.

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