Shares of Cumulus Media Inc (NASDAQ:CMLS) have earned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. Cumulus Media’s rating score has declined by 100% from three months ago as a result of various analysts’ upgrades and downgrades.

Analysts have set a 1 year consensus price target of $23.00 for the company and are forecasting that the company will post $1.19 EPS for the current quarter, according to Zacks. Zacks has also given Cumulus Media an industry rank of 108 out of 256 based on the ratings given to its competitors.

CMLS has been the subject of several recent research reports. Noble Financial set a $26.00 target price on shares of Cumulus Media and gave the stock a “buy” rating in a report on Friday, March 22nd. B. Riley initiated coverage on shares of Cumulus Media in a report on Tuesday, May 7th. They set a “neutral” rating and a $20.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Cumulus Media from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a report on Tuesday, March 26th.

CMLS traded up $0.80 during trading hours on Wednesday, hitting $17.50. 134,920 shares of the company’s stock were exchanged, compared to its average volume of 54,010. Cumulus Media has a 1-year low of $9.70 and a 1-year high of $26.00. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.25 and a current ratio of 3.25.

Cumulus Media (NASDAQ:CMLS) last announced its earnings results on Monday, March 18th. The company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.48. The business had revenue of $309.18 million for the quarter, compared to analyst estimates of $303.66 million. Equities research analysts anticipate that Cumulus Media will post 2.37 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in CMLS. Beach Point Capital Management LP bought a new position in Cumulus Media during the fourth quarter worth about $6,067,000. Zazove Associates LLC lifted its position in shares of 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 acquiring an additional 121,068 shares in the last quarter. Ares Management LLC purchased a new position in shares of Cumulus Media in the first quarter valued at approximately $1,495,000. NYL Investors LLC purchased a new position in shares of Cumulus Media in the fourth quarter valued at approximately $710,000. Finally, Benefit Street Partners LLC purchased a new position in shares of Cumulus Media in the first quarter valued at approximately $894,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

About Cumulus Media

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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