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

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

Cumulus Media Stock Performance

Shares of Cumulus Media stock opened at $0.88 on Friday. 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 has a 52 week low of $0.63 and a 52 week high of $5.18. The firm’s 50 day moving average is $0.76 and its two-hundred day moving average is $1.25. The firm has a market capitalization of $14.93 million, a P/E ratio of -0.10 and a beta of 1.32.

Cumulus Media (NASDAQ:CMLSGet Free Report) last issued its earnings results 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). 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 during the quarter, compared to analyst estimates of $204.05 million. During the same quarter in the previous year, the company posted $0.16 EPS. Research analysts forecast that Cumulus Media will post -2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Cumulus Media

An institutional investor recently bought a new position in Cumulus Media stock. Garden State Investment Advisory Services LLC bought a new position in shares of Cumulus Media Inc. (NASDAQ:CMLSFree Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 145,500 shares of the company’s stock, valued at approximately $191,000. Garden State Investment Advisory Services LLC owned 0.86% of Cumulus Media as of its most recent filing with the Securities and Exchange Commission (SEC). 48.68% of the stock is currently owned by hedge funds and other 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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