Cumulus Media, Inc. CMLS was a big mover last session, as the company saw its shares rise over 19% on the day. The move came on solid volume with far more shares changing hands than in a normal session. This breaks the trend for the company since May 10, as the stock is now trading above the volatile price range of $0.29 to $0.37.
In the past one month, the company has seen one negative estimate revision and its Zacks Consensus Estimate also moved lower, suggesting trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher lasts.
Cumulus Media currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
A better-ranked stock in the Radio Broadcasting industry is Discovery Communications, Inc. DISCA sporting a Zacks Rank #1 (Strong Buy).
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