Cumulus Media Inc. (NASDAQ:CMLS) Shares Acquired by Silver Point Capital L.P.

Silver Point Capital L.P. increased its stake in shares of Cumulus Media Inc. (NASDAQ:CMLS) by 4.1% in the first quarter, Holdings Channel reports. The firm owned 1,865,292 shares of the company’s stock after buying an additional 73,292 shares during the quarter. Cumulus Media accounts for approximately 1.7% of Silver Point Capital L.P.’s holdings, making the stock its 8th biggest holding. Silver Point Capital L.P. owned 0.09% of Cumulus Media worth $16,382,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Cumulus Media by 0.8% during the first quarter. Geode Capital Management LLC now owns 144,213 shares of the company’s stock worth $1,313,000 after acquiring an additional 1,123 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Cumulus Media by 1.4% in the fourth quarter. BlackRock Inc. now owns 122,220 shares of the company’s stock valued at $1,066,000 after purchasing an additional 1,687 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Cumulus Media by 7.9% in the fourth quarter. Renaissance Technologies LLC now owns 56,000 shares of the company’s stock valued at $488,000 after purchasing an additional 4,100 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Cumulus Media in the first quarter valued at about $37,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Cumulus Media in the fourth quarter valued at about $39,000. 63.47% of the stock is owned by institutional investors and hedge funds.

Shares of Cumulus Media stock traded down $0.07 on Thursday, hitting $12.69. The stock had a trading volume of 176 shares, compared to its average volume of 96,373. Cumulus Media Inc. has a twelve month low of $3.72 and a twelve month high of $14.84. The company has a 50 day moving average price of $12.06. The company has a current ratio of 3.62, a quick ratio of 3.62 and a debt-to-equity ratio of 3.15. The firm has a market capitalization of $259.51 million, a PE ratio of -3.50 and a beta of 2.23.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings results on Wednesday, May 5th. The company reported ($1.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.88) by $0.81. The business had revenue of $201.73 million during the quarter, compared to analysts’ expectations of $191.50 million. Cumulus Media had a negative return on equity of 17.40% and a negative net margin of 9.40%. On average, equities research analysts expect that Cumulus Media Inc. will post -0.44 EPS for the current year.

A number of analysts have recently commented on CMLS shares. Zacks Investment Research lowered Cumulus Media from a “buy” rating to a “sell” rating in a report on Wednesday, July 7th. B. Riley boosted their price target on Cumulus Media from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, May 27th.

About Cumulus Media

Cumulus Media Inc, an audio-first media and entertainment company, owns and operates radio stations in the United States. It owns and operates 415 stations in 86 markets, as well as approximately 7,300 affiliated stations through Westwood One. The company's content portfolio includes sports, news, talk, and entertainment programming from various brands, including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and other partners.

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Institutional Ownership by Quarter for Cumulus Media (NASDAQ:CMLS)

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