Noble Financial Analysts Give Cumulus Media (NASDAQ:CMLS) a $26.00 Price Target

Cumulus Media (NASDAQ:CMLS) received a $26.00 target price from equities researchers at Noble Financial in a report issued on Friday, March 22nd, TipRanks reports. The firm currently has a “buy” rating on the stock. Noble Financial’s price target suggests a potential upside of 40.01% from the company’s current price.

A number of other brokerages also recently issued reports on CMLS. Wolfe Research assumed coverage on shares of Cumulus Media in a research report on Friday, December 7th. They issued a “market perform” rating and a $14.00 price objective for the company. ValuEngine raised shares of Cumulus Media from a “sell” rating to a “hold” rating in a research report on Monday, February 4th.

Shares of CMLS traded down $0.07 on Friday, reaching $18.57. The company’s stock had a trading volume of 26,215 shares, compared to its average volume of 46,773. The company has a debt-to-equity ratio of 3.16, a quick ratio of 3.38 and a current ratio of 3.38. Cumulus Media has a twelve month low of $9.70 and a twelve month high of $26.00.

Several institutional investors have recently added to or reduced their stakes in the company. Beach Point Capital Management LP bought a new position in Cumulus Media in the 4th quarter worth approximately $6,067,000. Zazove Associates LLC boosted its holdings in Cumulus Media by 44.3% in the 4th quarter. Zazove Associates LLC now owns 394,666 shares of the company’s stock worth $4,341,000 after buying an additional 121,068 shares during the period. Neuberger Berman Group LLC bought a new position in Cumulus Media in the 3rd quarter worth approximately $1,698,000. NYL Investors LLC bought a new position in Cumulus Media in the 4th quarter worth approximately $710,000. Finally, Tibra Equities Europe Ltd bought a new position in Cumulus Media in the 1st quarter worth approximately $431,000. 85.08% of the stock is owned by hedge funds and other institutional investors.

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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