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

StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report sent to investors on Wednesday morning. The brokerage issued a hold rating on the stock.

Cumulus Media Trading Down 1.4 %

NASDAQ CMLS opened at $0.71 on Wednesday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. The stock has a market capitalization of $12.06 million, a P/E ratio of -0.08 and a beta of 1.45. Cumulus Media has a 52-week low of $0.70 and a 52-week high of $5.51. The firm has a 50-day moving average price of $1.23 and a 200 day moving average price of $1.78.

Cumulus Media (NASDAQ:CMLS) last issued its earnings results on Friday, November 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. The business had revenue of $203.60 million for the quarter, compared to analysts’ expectations of $204.05 million. During the same period last year, the company posted $0.16 earnings per share. Equities research analysts expect that Cumulus Media will post -2.71 EPS for the current year.

Institutional Investors Weigh In On Cumulus Media

Several institutional investors have recently made changes to their positions in the stock. Balanced Rock Investment Advisors LLC increased its holdings in shares of Cumulus Media by 12.7% in the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after purchasing an additional 10,228 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Cumulus Media in the first quarter valued at $54,000. Acadian Asset Management LLC boosted its stake 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 valued at $868,000 after acquiring an additional 15,920 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Cumulus Media in the 3rd quarter valued at about $25,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Cumulus Media in the 1st quarter valued at about $303,000. 48.68% of the stock is currently owned by hedge funds and other institutional investors.

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.