Cumulus stocks at new low.
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Thread: Cumulus stocks at new low.

  1. #1

    Cumulus stocks at new low.

    https://rbr.com/stocks1202/

    The first December trading session on Wall Street saw more mixed activity, as the Dow Industrials improved 68.35, to 19,191.93 and the Nasdaq Composite index sank 72.57, to 5,251.11.
    The biggest news of the day once again involves Cumulus Media, which tumbled 15 cents a share, to $1.06. With a 52-week target price of $3.50, itís been a bumpy ride since its Oct. 13 1-for-8 reverse stock split. The move was designed to revalue Cumulus shares at $2.40; CMLS shares havenít seen $2 a share since the day of the split. After a recent rally to $1.41 on Nov. 18, shares began to slump.

    Read more at https://rbr.com/stocks1202/#XkBoO8TUwsEC2SWI.99
    https://rbr.com/stocks1202/

  2. #2
    Probably waiting for an earnings report that shows that the debt issue is manageable. CMLS is a pure speculative play.

    My view is that there is far too much debt when compared to the likely cash flow. There will be a restructuring at some point, either in bankruptcy court or directly with the creditors and equity holders will lose some, or all, of their ownership.

    Traders who can constantly monitor the stock might profit from short term rises, or even falls if they can find someone foolish enough to take the other side of such an option, but CMLS doesn't represent any kind of investment in the proper sense of the term.

  3. #3

    Join Date
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    Aside from stock holders and Cumulus employees I doubt anyone cares. As long as their favorite stations are still on the air the listener doesn't care.

  4. #4

    Join Date
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    http://news.radio-online.com/cgi-bin...line_id=b14934

    A stockholders Meeting will be out on January 26, 2017

  5. #5
    Quote Originally Posted by MarcB View Post
    Aside from stock holders and Cumulus employees I doubt anyone cares. As long as their favorite stations are still on the air the listener doesn't care.
    I beg your pardon Marc, the Business of Radio is very important, in fact that is what this website and the company that owns it are all about. Sure there are many non radio people who visit & post here but why make a meaningless reply like this? Last I heard you were working at Supermarkets, surely they must have forums to express your Grocery knowledge

  6. #6

    Join Date
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    http://news.radio-online.com/cgi-bin...line_id=n33682

    Here's an Update for Cumulus

    Cumulus Media Inc. announced today that it has completed a discounted prepayment of a portion of its $1.8 billion senior secured term loan facility due December 2020. The Company successfully purchased $28.7 million of face value of its senior secured term loan for $20.0 million, a discount to par value of 30%. The transaction closed on December 30, 2016.

    Cumulus will recognize a one-time non-operating gain of approximately $8.7 million in its fourth quarter and full year 2016 earnings as a result of this transaction, and their annual interest expense will be reduced.

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