Cumulus Media (NASDAQ:CMLS) Now Covered by Analysts at StockNews.com

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

Cumulus Media Stock Performance

Shares of NASDAQ:CMLS opened at $1.28 on Friday. The business’s 50-day simple moving average is $1.49 and its 200 day simple moving average is $2.04. The company has a market cap of $21.61 million, a P/E ratio of -0.19 and a beta of 1.44. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.88 and a current ratio of 1.88. Cumulus Media has a one year low of $1.24 and a one year high of $5.51.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.19). The firm had revenue of $204.85 million for the quarter, compared to analysts’ expectations of $206.00 million. Cumulus Media had a negative net margin of 16.46% and a negative return on equity of 22.15%. During the same quarter in the prior year, the business earned ($0.06) EPS. On average, sell-side analysts forecast that Cumulus Media will post -2.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cumulus Media

A number of institutional investors have recently added to or reduced their stakes in CMLS. Empowered Funds LLC purchased a new stake in shares of Cumulus Media during the first quarter worth about $54,000. Quadrature Capital Ltd purchased a new stake in Cumulus Media during the 4th quarter worth approximately $57,000. Balanced Rock Investment Advisors LLC increased its holdings 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 purchasing an additional 10,228 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cumulus Media during the 1st quarter valued at approximately $303,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Cumulus Media by 3.9% during the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after buying an additional 15,920 shares during the last quarter. Institutional investors and hedge funds 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.