StockNews.com Initiates Coverage on Cumulus Media (NASDAQ:CMLS)

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

Cumulus Media Stock Down 14.0 %

Shares of NASDAQ:CMLS opened at $0.77 on Wednesday. The stock has a market capitalization of $13.05 million, a P/E ratio of -0.08 and a beta of 1.32. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. Cumulus Media has a 1 year low of $0.63 and a 1 year high of $5.28. The stock has a 50-day simple moving average of $0.77 and a 200-day simple moving average of $1.32.

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 the consensus estimate of ($0.54) by ($0.07). The business had revenue of $203.60 million during the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.16 EPS. Equities analysts forecast that Cumulus Media will post -2.71 earnings per share for the current year.

Hedge Funds Weigh In On Cumulus Media

A number of institutional investors and hedge funds have recently bought and sold shares of CMLS. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cumulus Media during the third quarter valued at approximately $25,000. Garden State Investment Advisory Services LLC acquired a new stake in Cumulus Media during the 3rd quarter valued at $191,000. Finally, Acadian Asset Management LLC increased its stake in Cumulus Media by 3.9% during the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after buying an additional 15,920 shares during the period. Hedge funds and other 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.