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

Stock analysts at StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued to investors on Saturday. The firm set a “hold” rating on the stock.

Cumulus Media Trading Up 5.1 %

Shares of Cumulus Media stock opened at $1.64 on Friday. The company’s 50-day moving average price is $1.90 and its 200-day moving average price is $2.77. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 3.22. Cumulus Media has a 12-month low of $1.29 and a 12-month high of $5.51. The company has a market cap of $27.69 million, a price-to-earnings ratio of -0.25 and a beta of 1.47.

Cumulus Media (NASDAQ:CMLS) last posted its earnings results 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 16.78% and a negative net margin of 13.18%. The firm had revenue of $204.85 million during the quarter, compared to analysts’ expectations of $206.00 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. On average, equities analysts expect that Cumulus Media will post -1.91 earnings per share for the current fiscal year.

Institutional Trading of Cumulus Media

Large investors have recently modified their holdings of the business. Empowered Funds LLC purchased a new stake in Cumulus Media in the first quarter valued at approximately $54,000. Quadrature Capital Ltd bought a new stake in shares of Cumulus Media during the 4th quarter worth $57,000. First Eagle Investment Management LLC purchased a new position in Cumulus Media in the fourth quarter worth $117,000. Balanced Rock Investment Advisors LLC grew its position in Cumulus Media by 12.7% in the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after acquiring an additional 10,228 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Cumulus Media in the first quarter valued at $303,000. Institutional investors own 48.68% of the company’s stock.

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.