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

StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued to investors on Friday morning. The brokerage issued a hold rating on the stock.

Cumulus Media Trading Up 7.1 %

NASDAQ:CMLS traded up $0.10 during trading hours on Friday, reaching $1.51. 14,202 shares of the company were exchanged, compared to its average volume of 53,517. The firm has a market cap of $25.50 million, a price-to-earnings ratio of -0.23 and a beta of 1.47. The stock has a 50 day simple moving average of $1.96 and a 200 day simple moving average of $2.91. Cumulus Media has a 52-week low of $1.29 and a 52-week high of $5.51. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.98 and a quick ratio of 1.98.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings data on Friday, August 2nd. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.19). Cumulus Media had a negative return on equity of 16.78% and a negative net margin of 13.18%. The firm had revenue of $204.85 million for the quarter, compared to analyst estimates of $206.00 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. As a group, analysts predict that Cumulus Media will post -1.91 EPS for the current year.

Institutional Trading of Cumulus Media

A number of institutional investors have recently modified their holdings of CMLS. Jacobs Levy Equity Management Inc. purchased a new position in Cumulus Media in the first quarter valued at approximately $303,000. Acadian Asset Management LLC raised its stake in shares of Cumulus Media by 9.6% in the 1st quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock valued at $1,472,000 after acquiring an additional 36,024 shares during the period. First Eagle Investment Management LLC acquired a new position in shares of Cumulus Media during the 4th quarter valued at $117,000. Balanced Rock Investment Advisors LLC boosted 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 purchasing an additional 15,820 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Cumulus Media in the 1st quarter valued at $54,000. 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.