Cumulus Media (CMLS) has risen sharply, recording gains of 7.44% in the past 4 weeks. However, the stock has corrected -9.78% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 4.84% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Cumulus Media (NASDAQ:CMLS): The stock opened at $0.36 on Friday but the bulls could not build on the opening and the stock topped out at $0.37 for the day. The stock traded down to $0.33 during the day, due to lack of any buying support eventually closed down at $0.35 with a loss of -6.78% for the day. The stock had closed at $0.37 on the previous day. The total traded volume was 2,657,367 shares.
The stock has recorded a 20-day Moving Average of 7.62% and the 50-Day Moving Average is 0.16%. Cumulus Media Inc. has dropped 15.85% during the last 3-month period . Year-to-Date the stock performance stands at 4.51%.
Cumulus Media (CMLS) : 3 Wall Street analysts covering Cumulus Media (CMLS) believe that the average level the stock could reach for the short term is $0.94. The maximum price target given is $2 and the minimum target for short term is around $1, hence the standard deviation is calculated at $0.5.
Cumulus Media Inc. is a radio broadcaster in the United States. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH magazine, concerts, licensed products, and television or video. The Companys categories of advertisers consist of amusement and recreation; banking and mortgage; furniture and home furnishings; arts and entertainment; food and beverage services; healthcare services; automotive dealers and telecommunications. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees. Its brands include Sweetjack, SweetDeals and Incentrev brands. It provides content that is distributed through over 460 owned and operated stations in approximately 90 the United States media markets, over 8,500 broadcast radio affiliates and digital channels. It provides sales and marketing services for 11 radio stations in the United States.