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

StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLSGet Free Report) in a report issued on Tuesday. The firm set a “hold” rating on the stock.

Cumulus Media Trading Down 3.8 %

Shares of CMLS stock opened at $0.69 on Tuesday. The stock has a market cap of $11.72 million, a P/E ratio of -0.08 and a beta of 1.31. Cumulus Media has a 1 year low of $0.67 and a 1 year high of $5.35. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68. The stock has a 50 day simple moving average of $0.83 and a 200 day simple moving average of $1.38.

Cumulus Media (NASDAQ:CMLSGet Free Report) last released its 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). Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. The company had revenue of $203.60 million for the quarter, compared to the consensus estimate of $204.05 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. On average, research analysts predict that Cumulus Media will post -2.71 earnings per share for the current fiscal year.

Institutional Trading of Cumulus Media

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings 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 worth $868,000 after purchasing an additional 15,920 shares during the period. Garden State Investment Advisory Services LLC bought a new stake in shares of Cumulus Media in the 3rd quarter valued at $191,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Cumulus Media during the third quarter worth $25,000. 48.68% of the stock is currently owned by institutional investors.

About Cumulus Media

(Get Free Report)

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.

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