Noble Financial Reaffirms Their Hold Rating on Cumulus Media (CMLS)

In a report released today, Michael Kupinski from Noble Financial maintained a Hold rating on Cumulus Media (CMLS – Research Report). The company’s shares closed last Friday at $2.75.

Kupinski covers the Communication Services sector, focusing on stocks such as Cumulus Media, E. W. Scripps Company Class A, and Travelzoo. According to TipRanks, Kupinski has an average return of 11.0% and a 40.08% success rate on recommended stocks.

The word on The Street in general, suggests a Hold analyst consensus rating for Cumulus Media.

Based on Cumulus Media’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $221.3 million and a GAAP net loss of $98.07 million. In comparison, last year the company earned a revenue of $251.27 million and had a GAAP net loss of $54 thousand

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CMLS in relation to earlier this year. Most recently, in February 2024, Renew Group Private Ltd, a Major Shareholder at CMLS bought 5,900.00 shares for a total of $29,500.00.

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Cumulus Media (CMLS) Company Description:

Cumulus Media, Inc. engages in the business of radio broadcasting. It operates through the following segments: Radio Station Group, Westwood One, and Corporate and Other. The Radio Station Group segment includes the sale of broadcasting time to local, regional, and national advertisers. The Westwood One segment covers the revenues generated primarily through network advertising. The Corporate and Other segment consists of the overall executive, administrative, and support functions for each of the company’s reportable segments, including finance and administration, legal, human resources, and information technology functions. The company is headquartered in Atlanta, GA.