Report: Cumulus Media Shares Downgraded

Cumulus Media (CMLS) shares have been downgraded by Macquarie to Neutral , according to the research report released to the investors. Earlier the firm had a rating of Outperform on the company shares.

The shares recommendation by the Brokerage Firm was released Monday.

The company shares have dropped 79.9% in the past 52 Weeks. On February 17, 2015 The shares registered one year high of $4.51 and one year low was seen on October 2, 2015 at $0.68. The 50-day moving average is $0.95 and the 200 day moving average is recorded at $1.75.

Currently the company Insiders own 12.84% of Cumulus Media Company shares according to the proxy statements. Institutional Investors own 90.59% of Cumulus Media shares.

During last six month period, the net percent change held by insiders has seen a change of -2.4%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (EVP/Content & Programming) of Cumulus Media Inc, Dickey John W had sold 35,000 shares worth of $50,400 in a transaction dated August 28, 2015. In this transaction, 35,000 shares were sold at $1.44 per share.