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Monica Wolfe
Monica Wolfe
Articles (757) 

Cumulus Media Reports CFO Buy

April 03, 2013 | About:

The CFO of Cumulus Media (CMLS) made a significant insider buy last week. This buy comes after a press release reporting the hiring of a new Senior Vice President of National Sales as well as the contract extension of several favorite radio personalities nationwide. Senior Vice President, Treasurer and CFO Joseph P. Hannan bought 25,000 shares at a price of $3.30. His total transaction amount was $82,500. The CFO now holds 70,943 shares of company stock.

Hannan has shown to be a good investor in his company. The last time he bought Cumulus shares was in August 2012. Since that transaction the price of the stock has increased 20.82%. Prior to that buy, Hannan sold shares in June 2011. Since that sell, share prices have decreased 4.97%. To see Hannan’s complete list of insider trades, click here.

Insiders in Cumulus Media keep buying; there is not a high amount of insider sells like we see in many companies of this size. Joseph Hannan is also the only corporate executive that is continually buying shares into the company. The other insider trades belong to directors and 10% owners of CMLS.

Joseph P. Hannan has been the Senior Vice President, Treasurer and CFO of Cumulus Media since 2008. Prior to Cumulus, Hannan was the COO/CFO of Lambert Television. He has also served on the board of Regent Communications, International Media Group and iBlast.

Cumulus Media is America’s second largest operator of radio stations. Cumulus provides local marketing solutions in 110 metropolitan areas. The company offers local advertising promotions for businesses to communities of over 150 million listeners via radio, digital media, targeted e-mail and on-site promotions.

Cumulus Media’s largest competitor is Clear Channel Communications, the largest operator of radio stations as well as outdoor media. Clear Channel operates both Clear Channel Outdoor Holdings (CCO) as well as CC Media Holdings (CCMO); these shares are currently trading at $7.35 and $3, respectively.

According to the GuruFocus analysis of Cumulus Media, the company’s revenue has been in decline for the last five years. Also, the company’s price is close to a one-year high of $3.59.

Cumulus Media Quick Stats:

Market Cap: 565.3 M P/E: n/a Shiller P/E: n/a
P/B: 2.3 P/S: 0.5 EV/EBITDA: n/a
52 Week Low: 2.08 52 Week High: 3.59 Average Volume: 292,000

There are currently four gurus that hold a stake in Cumulus Media. Joel Greenblatt holds 70,815 shares, Wallace Weitz holds 3,300,000 shares, Howard Marks owns the most shares with 3,985,983 and Jim Simons owns 69,354 shares.

With its shares down 0.31% this morning, Cumulus Media trades at $3.26.

To view the complete list of Cumulus Media’s insider trades, click here.

  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

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Rating: 2.7/5 (3 votes)


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GuruFocus has detected 2 Warning Signs with Cumulus Media Inc $CMLS.
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