Cumulus Media (NASDAQ:CMLS) Earns Hold Rating from Analysts at StockNews.com

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

Cumulus Media Stock Performance

Shares of NASDAQ CMLS opened at $2.05 on Wednesday. The business has a fifty day simple moving average of $2.13 and a 200-day simple moving average of $3.14. The company has a market cap of $34.62 million, a price-to-earnings ratio of -0.31 and a beta of 1.47. Cumulus Media has a 12 month low of $1.78 and a 12 month high of $6.59. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 3.22.

Cumulus Media (NASDAQ:CMLS) last announced its earnings results on Friday, May 3rd. The company reported ($0.85) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.33) by $0.48. The company had revenue of $200.05 million for the quarter, compared to the consensus estimate of $200.30 million. Cumulus Media had a negative net margin of 13.18% and a negative return on equity of 16.78%. Sell-side analysts predict that Cumulus Media will post -1.91 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CMLS. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Cumulus Media during the 1st quarter valued at $303,000. Acadian Asset Management LLC boosted its position in Cumulus Media by 9.6% during the first quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock valued at $1,472,000 after purchasing an additional 36,024 shares during the last quarter. Ritholtz Wealth Management purchased a new position in Cumulus Media in the fourth quarter valued at about $145,000. First Eagle Investment Management LLC acquired a new position in Cumulus Media in the 4th quarter worth about $117,000. Finally, Balanced Rock Investment Advisors LLC raised its stake in shares of 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 purchasing an additional 15,820 shares in the last quarter. Institutional investors and hedge funds 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.