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

Equities research analysts at StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report released on Friday. The brokerage set a “hold” rating on the stock.

Cumulus Media Price Performance

NASDAQ:CMLS opened at $1.27 on Friday. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $21.45 million, a price-to-earnings ratio of -0.19 and a beta of 1.45. The firm’s 50-day simple moving average is $1.58 and its 200 day simple moving average is $2.22. Cumulus Media has a 52 week low of $1.25 and a 52 week high of $5.51.

Cumulus Media (NASDAQ:CMLS) last issued its earnings results on Friday, August 2nd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.19). Cumulus Media had a negative net margin of 16.46% and a negative return on equity of 22.15%. The firm had revenue of $204.85 million during the quarter, compared to analyst estimates of $206.00 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. As a group, sell-side analysts predict that Cumulus Media will post -2.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CMLS. Balanced Rock Investment Advisors LLC boosted its holdings in Cumulus Media by 12.7% in the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after acquiring an additional 10,228 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Cumulus Media in the 4th quarter worth approximately $57,000. Empowered Funds LLC bought a new stake in shares of Cumulus Media in the 1st quarter valued at $54,000. Acadian Asset Management LLC increased its position 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 buying an additional 15,920 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Cumulus Media during the first quarter worth $303,000. 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.