Its average volume is no more than 7,000 shares. But, its current value is higher than radio industry heavyweights such as Beasley Broadcast Group and Entercom. It’s a new era for Cumulus Media, and its stock is approaching $20 a share.
At the Closing Bell on Tuesday, Cumulus stock finished at $19.05, good for a seven-cent gain from Monday.
But, trading was rather tepid — again.
With average volume of just 6,851 shares, volume on Tuesday was 1,496.
The continued growth for Cumulus brings its market cap to $558.3 million.
And, it gets it closer to a mark other radio industry companies may not see for quite some time.
Beasley shares were up 12 cents on Tuesday, to $6.88.
Entercom stock was up 15 cents, to $7.75.
How did other media stocks fare in Tuesday’s trading, look at the RBR+TVBR homepage for our Wall Street Report!