The company’s fiscal performance during the first three months of 2021 were bumpy but could have been worse. This sequential growth was coupled with positive comments from CEO Mary Berner during the company’s Q1 ’21 earnings call on Wednesday referencing “enhanced operating leverage” and “continued year-over-year sequential growth.”
Cumulus Media‘s path to profitability appears to have gotten the seal of approval from some in the investment world. The company’s shares were up significantly on Thursday.
At the Closing Bell, CMLS was up 10.6% from May 5’s closing price, ending the day at $9.95.
It was a strong session for CMLS, with trading volume of 207,360 on average volume of 111,255 shares.
With 20 minutes left in the trading day, CMLS hit $10.31 before receding somewhat. Still, it puts Cumulus shares at their best position since late March, following a run up to $11.58 for the company.
On November 18, 2020, a $6.14 finish was seen for Cumulus.
It has a 1-year target price of $11.33.
