Cumulus Media Inc (NASDAQ:CMLS) major shareholder Sp Signal Manager, Llc sold 31,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $14.52, for a total value of $450,120.00. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

CMLS stock traded down $0.05 during mid-day trading on Wednesday, reaching $13.25. The company had a trading volume of 112 shares, compared to its average volume of 81,601. The company has a debt-to-equity ratio of 2.76, a quick ratio of 2.81 and a current ratio of 2.81. The company has a market capitalization of $190.88 million, a price-to-earnings ratio of 3.69 and a beta of 1.60. The firm has a fifty day simple moving average of $13.93 and a 200 day simple moving average of $16.34. Cumulus Media Inc has a fifty-two week low of $9.70 and a fifty-two week high of $20.00.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.53. The company had revenue of $279.67 million for the quarter, compared to analyst estimates of $284.13 million. Cumulus Media had a return on equity of 20.45% and a net margin of 8.76%. As a group, analysts predict that Cumulus Media Inc will post 2.78 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Cumulus Media by 52.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,898 shares of the company’s stock valued at $69,000 after acquiring an additional 1,344 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Cumulus Media by 255.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,827 shares of the company’s stock valued at $108,000 after acquiring an additional 4,189 shares during the last quarter. Northern Trust Corp purchased a new position in shares of Cumulus Media in the 2nd quarter valued at about $222,000. Citadel Advisors LLC purchased a new position in shares of Cumulus Media in the 2nd quarter valued at about $251,000. Finally, Alambic Investment Management L.P. purchased a new position in shares of Cumulus Media in the 2nd quarter valued at about $294,000.

A number of equities research analysts have issued reports on the company. Zacks Investment Research lowered Cumulus Media from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. B. Riley set a $19.00 price target on Cumulus Media and gave the company a “hold” rating in a research report on Wednesday, August 21st. Noble Financial reaffirmed a “buy” rating and issued a $26.00 price target on shares of Cumulus Media in a research report on Friday, August 9th. Finally, ValuEngine raised Cumulus Media from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $20.25.

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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