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

StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note published on Thursday. The firm issued a hold rating on the stock.

Cumulus Media Price Performance

NASDAQ:CMLS opened at $1.39 on Thursday. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.88 and a current ratio of 1.88. The company has a 50-day moving average of $1.64 and a 200-day moving average of $2.28. Cumulus Media has a 52 week low of $1.29 and a 52 week high of $5.51. The company has a market capitalization of $23.47 million, a price-to-earnings ratio of -0.21 and a beta of 1.45.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings results on Friday, August 2nd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.19). Cumulus Media had a negative net margin of 16.46% and a negative return on equity of 22.15%. The company had revenue of $204.85 million during the quarter, compared to analyst estimates of $206.00 million. During the same period in the prior year, the firm earned ($0.06) EPS. As a group, equities research analysts anticipate that Cumulus Media will post -2.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd acquired a new stake in Cumulus Media during the 4th quarter valued at $57,000. Empowered Funds LLC acquired a new stake in shares of Cumulus Media in the first quarter valued at $54,000. Acadian Asset Management LLC raised its holdings in shares of Cumulus Media by 9.6% in the first quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock valued at $1,472,000 after buying an additional 36,024 shares during the last quarter. Balanced Rock Investment Advisors LLC lifted its position in Cumulus Media by 24.5% during the 1st quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock worth $288,000 after buying an additional 15,820 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Cumulus Media in the 1st quarter valued at about $303,000. 48.68% of the stock is owned by institutional investors and hedge funds.

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.