Cumulus Media Inc. (NASDAQ:CMLS) is Silver Point Capital L.P.’s 8th Largest Position

Silver Point Capital L.P. increased its stake in shares of Cumulus Media Inc. (NASDAQ:CMLS) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,865,292 shares of the company’s stock after purchasing an additional 73,292 shares during the quarter. Cumulus Media makes up approximately 1.7% of Silver Point Capital L.P.’s holdings, making the stock its 8th largest holding. Silver Point Capital L.P. owned 9.12% of Cumulus Media worth $16,382,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in Cumulus Media in the 1st quarter valued at about $37,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Cumulus Media during the 4th quarter worth about $39,000. Virtu Financial LLC purchased a new stake in shares of Cumulus Media during the 4th quarter worth about $90,000. Citigroup Inc. purchased a new stake in shares of Cumulus Media during the 4th quarter worth about $114,000. Finally, Morgan Stanley purchased a new stake in shares of Cumulus Media during the 1st quarter worth about $136,000. Hedge funds and other institutional investors own 63.47% of the company’s stock.

Several research firms recently commented on CMLS. Zacks Investment Research lowered Cumulus Media from a “buy” rating to a “sell” rating in a research 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.

Shares of NASDAQ:CMLS traded down $0.07 on Thursday, hitting $12.69. The company’s stock had a trading volume of 176 shares, compared to its average volume of 96,373. The company has a quick ratio of 3.62, a current ratio of 3.62 and a debt-to-equity ratio of 3.15. The firm has a market capitalization of $259.51 million, a P/E ratio of -3.50 and a beta of 2.23. The company’s 50-day moving average price is $12.06. Cumulus Media Inc. has a 12 month low of $3.72 and a 12 month high of $14.84.

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

Cumulus Media Profile

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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