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

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

Cumulus Media Stock Performance

Shares of CMLS opened at $0.71 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68. The stock has a market capitalization of $12.06 million, a P/E ratio of -0.08 and a beta of 1.45. The firm’s fifty day simple moving average is $1.27 and its two-hundred day simple moving average is $1.81. Cumulus Media has a 12 month low of $0.70 and a 12 month high of $5.51.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings data on Friday, November 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The company had revenue of $203.60 million for the quarter, compared to the consensus estimate of $204.05 million. Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. During the same period last year, the company earned $0.16 EPS. As a group, analysts predict that Cumulus Media will post -2.71 EPS for the current year.

Institutional Investors Weigh In On Cumulus Media

A number of institutional investors and hedge funds have recently made changes to their positions in CMLS. Empowered Funds LLC acquired a new stake in shares of Cumulus Media in the 1st quarter worth about $54,000. Balanced Rock Investment Advisors LLC raised its holdings in shares of Cumulus Media by 12.7% in the 2nd 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 during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Cumulus Media in the 1st quarter valued at about $303,000. Finally, Acadian Asset Management LLC increased its stake in Cumulus Media by 3.9% in the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after buying an additional 15,920 shares during 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.