StockNews.com Begins Coverage on Cumulus Media (NASDAQ:CMLS)

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

Cumulus Media Trading Up 2.0 %

NASDAQ CMLS opened at $1.52 on Wednesday. The firm’s fifty day moving average price is $1.70 and its 200 day moving average price is $2.36. Cumulus Media has a 12 month low of $1.29 and a 12 month 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 company has a market capitalization of $25.67 million, a price-to-earnings ratio of -0.23 and a beta of 1.45.

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

Institutional Investors Weigh In On Cumulus Media

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in shares of Cumulus Media in the 4th quarter valued at $57,000. Empowered Funds LLC purchased a new position in Cumulus Media during the 1st quarter worth $54,000. Balanced Rock Investment Advisors LLC increased its stake in Cumulus Media by 24.5% in the first quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock valued at $288,000 after purchasing an additional 15,820 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cumulus Media in the first quarter valued at about $303,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Cumulus Media by 9.6% during the first quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock worth $1,472,000 after buying an additional 36,024 shares during the period. Hedge funds and other institutional investors own 48.68% of the company’s stock.

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.