Sigma Planning Corp Sells 20,751 Shares of Cumulus Media Inc. (NASDAQ:CMLS)

Sigma Planning Corp trimmed its holdings in Cumulus Media Inc. (NASDAQ:CMLS) by 54.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,354 shares of the company’s stock after selling 20,751 shares during the period. Sigma Planning Corp owned about 0.11% of Cumulus Media worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. O Shaughnessy Asset Management LLC boosted its stake in Cumulus Media by 40.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 28,538 shares of the company’s stock valued at $145,000 after purchasing an additional 8,265 shares during the last quarter. Ancora Advisors LLC raised its position in Cumulus Media by 18.6% in the 3rd quarter. Ancora Advisors LLC now owns 64,280 shares of the company’s stock valued at $327,000 after buying an additional 10,080 shares during the last quarter. Stokes Family Office LLC bought a new position in Cumulus Media during the 3rd quarter valued at $52,000. EJF Capital LLC boosted its holdings in Cumulus Media by 28.5% during the 3rd quarter. EJF Capital LLC now owns 86,768 shares of the company’s stock worth $442,000 after acquiring an additional 19,268 shares during the last quarter. Finally, Aristeia Capital LLC bought a new stake in shares of Cumulus Media in the 3rd quarter worth $105,000. 48.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CMLS shares. Barrington Research downgraded shares of Cumulus Media from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 28th. Noble Financial reiterated a “market perform” rating on shares of Cumulus Media in a report on Wednesday, February 28th.

Cumulus Media Trading Up 1.9 %

NASDAQ:CMLS opened at $2.73 on Tuesday. The firm’s 50 day moving average is $3.37 and its 200 day moving average is $4.35. Cumulus Media Inc. has a 12 month low of $2.57 and a 12 month high of $6.59. The stock has a market capitalization of $45.52 million, a PE ratio of -0.39 and a beta of 1.49. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 3.06.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($2.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($2.01). Cumulus Media had a negative net margin of 13.96% and a negative return on equity of 17.50%. The firm had revenue of $221.30 million for the quarter, compared to analysts’ expectations of $220.07 million. Sell-side analysts expect that Cumulus Media Inc. will post -1.76 earnings per share for the current year.

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.