Cumulus Media (NASDAQ:CMLS) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report report published on Sunday. The firm issued a hold rating on the stock.

Cumulus Media Stock Down 1.2 %

Shares of NASDAQ:CMLS opened at $0.78 on Friday. The company has a market capitalization of $13.25 million, a P/E ratio of -0.09 and a beta of 1.31. The stock’s fifty day simple moving average is $0.96 and its 200-day simple moving average is $1.49. Cumulus Media has a 52-week low of $0.68 and a 52-week high of $5.51. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings results on Friday, November 1st. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The business had revenue of $203.60 million for the quarter, compared to analysts’ expectations 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 company earned $0.16 EPS. As a group, equities research analysts forecast that Cumulus Media will post -2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cumulus Media

Hedge funds have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd purchased a new position in Cumulus Media in the third quarter valued at about $25,000. Balanced Rock Investment Advisors LLC lifted its position in Cumulus Media by 12.7% during the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after acquiring an additional 10,228 shares in the last quarter. Garden State Investment Advisory Services LLC purchased a new position in Cumulus Media in the 3rd quarter worth approximately $191,000. Finally, Acadian Asset Management LLC raised its stake in shares of Cumulus Media by 3.9% during the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after purchasing an additional 15,920 shares during the period. Hedge funds and other institutional investors own 48.68% of the company’s stock.

About Cumulus Media

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.