Cumulus Media (NASDAQ:CMLS) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note published on Wednesday morning. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Performance

Shares of CMLS stock opened at $1.48 on Wednesday. The stock has a 50-day simple moving average of $1.73 and a 200 day simple moving average of $2.38. The stock has a market capitalization of $24.99 million, a P/E ratio of -0.22 and a beta of 1.45. Cumulus Media has a fifty-two week low of $1.29 and a fifty-two week high of $5.51. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.55.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.19). Cumulus Media had a negative net margin of 16.46% and a negative return on equity of 22.15%. The business had revenue of $204.85 million for the quarter, compared to the consensus estimate of $206.00 million. During the same quarter last year, the business posted ($0.06) EPS. On average, sell-side analysts expect that Cumulus Media will post -2.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cumulus Media

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new stake in shares of Cumulus Media during the fourth quarter worth $57,000. Empowered Funds LLC acquired a new stake in Cumulus Media during the 1st quarter worth about $54,000. Acadian Asset Management LLC lifted its stake in Cumulus Media by 9.6% during the first quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock valued at $1,472,000 after buying an additional 36,024 shares in the last quarter. Balanced Rock Investment Advisors LLC boosted its holdings in shares of Cumulus Media by 24.5% in the first quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock worth $288,000 after buying an additional 15,820 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Cumulus Media in the first quarter worth about $303,000. Institutional investors and hedge funds own 48.68% of the company’s stock.

Cumulus Media Company Profile

Cumulus Media Inc, an audio-first media company, owns and operates radio stations in the United States. It owns and operates stations in various markets, as well as affiliated stations through Westwood One. The company's content portfolio includes sports, news, talk, and entertainment programming from various brands, including the NFL, the NCAA, the Masters, CNN, AP News, the Academy of Country Music Awards, and other partners.