Cumulus Media Inc. (NASDAQ:CMLS) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its stake in Cumulus Media Inc. (NASDAQ:CMLS) by 6.8% in the 2nd quarter, Holdings Channel reports. The firm owned 549,773 shares of the company’s stock after selling 40,274 shares during the period. Dimensional Fund Advisors LP’s holdings in Cumulus Media were worth $1,121,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in shares of Cumulus Media by 3.9% in the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after acquiring an additional 15,920 shares in the last quarter. Balanced Rock Investment Advisors LLC grew its stake 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 acquiring an additional 10,228 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Cumulus Media in the first quarter worth $303,000. Empowered Funds LLC acquired a new position in shares of Cumulus Media in the first quarter worth $54,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Cumulus Media in the fourth quarter worth $57,000. Institutional investors and hedge funds own 48.68% of the company’s stock.

Cumulus Media Price Performance

Shares of CMLS opened at $1.36 on Friday. The firm has a fifty day moving average price of $1.50 and a 200 day moving average price of $2.12. Cumulus Media Inc. has a 1-year low of $1.25 and a 1-year high of $5.51. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market cap of $23.04 million, a PE ratio of -0.16 and a beta of 1.44.

Cumulus Media (NASDAQ:CMLS) last announced its earnings results on Friday, August 2nd. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $204.85 million during the quarter, compared to analysts’ expectations of $206.00 million. During the same period in the previous year, the company posted ($0.06) earnings per share. As a group, sell-side analysts anticipate that Cumulus Media Inc. will post -2.4 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Cumulus Media in a research note on Saturday. They issued a “hold” rating for the company.

Cumulus Media 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.