Cumulus Media downgraded to Market Perform from Outperform at Barrington

Barrington analyst James Goss downgraded Cumulus Media to Market Perform from Outperform without a price target. The analyst says that while Cumulus management has made strides in restoring stability to a company that had been under extreme pressure for many years, execution will take some time. “A more cautious rating seems appropriate for now,” the analyst tells investors in a research note. The firm adds says local advertising trends, while somewhat less volatile than national advertising, have been broadly weaker.