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

Stock analysts at StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a note issued to investors on Friday. The firm set a “hold” rating on the stock.

Cumulus Media Stock Up 10.4 %

Shares of NASDAQ:CMLS opened at $0.76 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 $0.68 and a 52-week high of $5.51. The company has a 50 day moving average of $1.10 and a two-hundred day moving average of $1.66. The company has a market capitalization of $12.94 million, a price-to-earnings ratio of -0.08 and a beta of 1.45.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data 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). The firm had revenue of $203.60 million during the quarter, compared to analyst estimates of $204.05 million. Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. During the same period last year, the business earned $0.16 EPS. As a group, analysts forecast that Cumulus Media will post -2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cumulus Media

Institutional investors and hedge funds have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd purchased a new position in shares of Cumulus Media during the 3rd quarter valued at approximately $25,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cumulus Media during the 1st quarter valued at approximately $303,000. Balanced Rock Investment Advisors LLC boosted its stake in shares of Cumulus Media by 12.7% during the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after buying an additional 10,228 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new position in shares of Cumulus Media during the 3rd quarter valued at approximately $191,000. 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. 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.