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

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

Cumulus Media Trading Up 8.9 %

CMLS opened at $0.89 on Wednesday. The stock has a market capitalization of $15.16 million, a PE ratio of -0.10 and a beta of 1.32. Cumulus Media has a one year low of $0.63 and a one year high of $5.30. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. The business’s 50 day moving average price is $0.78 and its 200 day moving average price is $1.33.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.61) earnings per share 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 quarter in the prior year, the company posted $0.16 earnings per share. As a group, equities research analysts expect that Cumulus Media will post -2.71 EPS for the current year.

Institutional Trading of Cumulus Media

Institutional investors and hedge funds have recently bought and sold shares of the business. 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. Garden State Investment Advisory Services LLC purchased a new position in Cumulus Media in the third quarter valued at $191,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Cumulus Media in the third quarter valued at $25,000. 48.68% of the stock is currently owned by hedge funds and other institutional investors.

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.