Cumulus Media (NASDAQ:CMLS) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Down 1.2 %

Cumulus Media stock opened at $0.73 on Thursday. The company’s 50-day moving average price is $1.16 and its two-hundred day moving average price is $1.72. The stock has a market cap of $12.33 million, a price-to-earnings ratio of -0.08 and a beta of 1.45. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68. Cumulus Media has a 52 week low of $0.69 and a 52 week high of $5.51.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings data on Friday, November 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The business had revenue of $203.60 million during the quarter, compared to analyst estimates of $204.05 million. Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. During the same period in the prior year, the firm earned $0.16 EPS. On average, analysts expect that Cumulus Media will post -2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Cumulus Media

Several hedge funds have recently made changes to their positions in CMLS. Garden State Investment Advisory Services LLC acquired a new position in shares of Cumulus Media in the 3rd quarter worth approximately $191,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Cumulus Media in the first quarter worth about $303,000. Acadian Asset Management LLC boosted its holdings in shares of Cumulus Media by 9.6% in the first quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock worth $1,472,000 after buying an additional 36,024 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Cumulus Media in the third quarter worth about $25,000. Finally, Balanced Rock Investment Advisors LLC boosted its holdings in shares of Cumulus Media by 12.7% in the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after buying an additional 10,228 shares during the period. 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.