Is a leaner Cumulus Media a more profitable one? That’s what investors indicate, based on the strength seen on Friday for the company’s stock.
Minutes before the Closing Bell on Wall Street, CMLS was trading at $18.20, up 39 cents from Thursday’s close.
Cumulus, however, is a thinly traded issue, with just 7,188 shares trading on Friday.
Still, CMLS holds a 1-year Target Estimate of $16, and it has been since early September that Cumulus’ stock has been valued at this level.
The boost could be tied to preliminary Q4 results released this week by Cumulus.
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If the company’s preliminary operating results are on target, investors will be undoubtedly pleased with the trajectory the nation’s No. 2 commercial radio broadcasting company by number of stations is performing — even as it pares down assets as part of its new plan of action under CEO Mary Berner.
