Zazove Associates LLC Raises Stake in Cumulus Media Inc. (NASDAQ:CMLS)

Zazove Associates LLC lifted its position in shares of Cumulus Media Inc. (NASDAQ:CMLS) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,528,428 shares of the company’s stock after purchasing an additional 70,000 shares during the period. Zazove Associates LLC owned about 0.09% of Cumulus Media worth $1,024,000 at the end of the most recent reporting period.

Separately, Garden State Investment Advisory Services LLC purchased a new stake in Cumulus Media in the third quarter valued at $191,000. 48.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Cumulus Media in a report on Sunday. They set a “hold” rating on the stock.

Cumulus Media Trading Down 10.2 %

NASDAQ CMLS opened at $0.32 on Wednesday. Cumulus Media Inc. has a one year low of $0.32 and a one year high of $3.34. The firm has a market cap of $5.57 million, a PE ratio of -0.04 and a beta of 1.17. The firm’s fifty day moving average is $0.64 and its two-hundred day moving average is $0.84. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89.

About Cumulus Media

Cumulus Media Inc, an audio-first media company, owns and operates radio stations in the United States. It owns and operates stations in various markets, as well as 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, AP News, the Academy of Country Music Awards, and other partners.