Seaport Global Takes 7.8% Stake in Cumulus Media

TL;DR

**Seaport Global just bought 7.8% of Cumulus Media, a bullish sign for the stock.**

AI Summary

Seaport Global Asset Management LLC, a New York-based investment firm, reported on January 29, 2024, that it beneficially owns 1,499,999 shares of Cumulus Media Inc.'s Class A Common Stock, representing 7.8% of the company. This significant stake, valued at approximately $10.5 million based on a recent share price of $7.00, indicates Seaport Global's confidence in the radio broadcasting company. This matters to investors because a large institutional holding can signal a vote of confidence in the company's future prospects and potentially influence its stock performance.

Why It Matters

A substantial institutional investment like this can signal market confidence in Cumulus Media's value and future, potentially attracting other investors and influencing stock price stability.

Risk Assessment

Risk Level: low — This filing indicates a significant institutional investment, which generally reduces risk by signaling confidence in the company.

Analyst Insight

A smart investor would view this as a positive signal, potentially indicating that Cumulus Media Inc. is undervalued or has strong future prospects, and might consider further research into the company's fundamentals.

Key Numbers

• 1,499,999 — Shares Beneficially Owned (Represents Seaport Global Asset Management LLC's total holding in Cumulus Media Inc.)
• 7.8% — Percentage of Class Owned (Indicates a significant ownership stake by Seaport Global Asset Management LLC in Cumulus Media Inc.)
• 231082801 — CUSIP Number (Unique identifier for Cumulus Media Inc.'s Class A Common Stock.)

Key Players & Entities

• Seaport Global Asset Management LLC (company) — reporting person and beneficial owner
• Cumulus Media Inc. (company) — subject company (issuer)
• 1,499,999 (dollar_amount) — shares beneficially owned
• 7.8% (dollar_amount) — percentage of class owned
• December 31, 2023 (date) — date of event requiring filing
• January 29, 2024 (date) — filing date

Forward-Looking Statements

• Cumulus Media Inc. stock may experience increased investor interest due to this significant institutional stake. (Cumulus Media Inc.) — medium confidence, target: Q2 2024

FAQ

Key Financial Figures

• $0.0000001 — Name of Issuer) Class A Common Stock, $0.0000001 par value per share (Title of Class o

Filing Documents

• d610356dsc13g.htm (SC 13G) — 42KB
• 0001193125-24-018108.txt ( ) — 43KB

From the Filing

SC 13G 1 d610356dsc13g.htm SC 13G SC 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* Cumulus Media Inc. (Name of Issuer) Class A Common Stock, $0.0000001 par value per share (Title of Class of Securities) 231082801 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 231082801 1 NAMES OF REPORTING PERSONS Seaport Global Asset Management LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a)(b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION New York, United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 1,044,481 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 1,044,481 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,044,481 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.4% 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IA, OO Item1(a). Name of Issuer : Cumulus Media Inc. (the Issuer) Item1(b). Address of Issuers Principal Executive Offices : 780 Johnson Ferry Road NE, Suite 500 Atlanta, GA 30342 Item2(a). Names of Persons Filing : Seaport Global Asset Management LLC (Seaport) Item2(b). Address of Principal Business Office or, if None, Residence : 360 Madison Avenue, 23 rd Floor New York, NY 10017 Item2(c). Citizenship : Seaport New York, United States of America Item2(d). Title of Class of Securities : Class A Common Stock, $0.0000001 par value per share (the Class A Common Stock) Item2(e). CUSIP Number : 231082801 Item3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance Company as defined in Section 3(a)(19) of the Act; (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J); (k) Group, in accordance with 240.13d-1(b)(1)(ii)(K). Item4. As of December 31, 2023, Seaport beneficially owned 1,044,481 shares of Class A Common Stock, which is 6.4% of the Issuers outstanding Class A Common Stock. The percentage herein is calculated based upon 16,196,129 shares of Class A Common Stock issued and outstanding as of October 20, 2023, as reported in the Issuers Form 10-Q filed with the SEC on October 27, 2023. (a) Amount Beneficially Owned Seaport Global Asset Management LLC 1,044,481 shares (b) Percent of Class Seaport Global Asset Management LLC 6.4% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote Seaport Global Asset Management LLC 1,044,481 shares (ii) shared power to vote or to direct the vote Seaport Global Asset Management LLC 0 shares (iii) sole power to dispose or to direct the disposition of Seaport Global Asset Management LLC 1,044,481 shares (iv) shared power to dispose or to direct the disposition of Seaport Global Asset Management LLC - 0 shares *** Shares reported herein represent shares held by investment advisory clients of and trusts managed by of Seaport Global Asset Management LLC. Item5. If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to b

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