StockNews.com Initiates Coverage on Cumulus Media (NASDAQ:CMLS)

Equities research analysts at StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued on Tuesday. The firm set a “hold” rating on the stock.

Cumulus Media Stock Up 1.1 %

Shares of NASDAQ:CMLS opened at $0.88 on Tuesday. Cumulus Media has a 1-year low of $0.86 and a 1-year high of $5.51. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market cap of $14.90 million, a P/E ratio of -0.10 and a beta of 1.45. The firm has a fifty day moving average price of $1.35 and a 200 day moving average price of $1.87.

Cumulus Media (NASDAQ:CMLS) last announced its earnings results on Friday, November 1st. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The business had revenue of $203.60 million for the quarter, compared to analyst estimates of $204.05 million. Cumulus Media had a negative return on equity of 29.38% and a negative net margin of 18.11%. During the same quarter last year, the company posted $0.16 EPS. Sell-side analysts predict that Cumulus Media will post -2.42 EPS for the current year.

Institutional Trading of Cumulus Media

Several hedge funds have recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in Cumulus Media during the first quarter worth about $54,000. Balanced Rock Investment Advisors LLC lifted its holdings in shares of Cumulus Media by 12.7% in the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after buying an additional 10,228 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Cumulus Media in the 1st quarter valued at approximately $303,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Cumulus Media by 3.9% in the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after buying an additional 15,920 shares in the last quarter. 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.