With the third quarter less than two weeks away from its end, Cumulus Media shares remain mired at price points last consistently seen in February.
The good news: Cumulus shares are faring better than they did at the start of 2019.
With Wednesday’s Closing Bell on Wall Street, CMLS was down 1.74% to $14.14.
Trading volume was slightly above average, with 174,300 shares trading.
With a 1-year target estimate of $21, Cumulus shares have lost steam since July 1, making Q3 a soft one for shareholders. On June 28, an $18.55 close was seen. Since then, CMLS fell to a low of $12.60, seen August 7, and has been under $15 a share for nearly a month.
Still, Cumulus shares began the year at $11.
The company’s Q3 earnings are expected for release in mid-November.
