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

StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report sent to investors on Saturday morning. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Performance

Shares of CMLS opened at $1.33 on Friday. The company has a market capitalization of $22.46 million, a price-to-earnings ratio of -0.20 and a beta of 1.44. Cumulus Media has a 52-week low of $1.25 and a 52-week high of $5.51. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.55. The stock has a 50 day moving average price of $1.50 and a 200 day moving average price of $2.11.

Cumulus Media (NASDAQ:CMLS) last issued 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 net margin of 16.46% and a negative return on equity of 22.15%. The company had revenue of $204.85 million during the quarter, compared to analyst estimates of $206.00 million. During the same quarter in the previous year, the company posted ($0.06) EPS. Research analysts predict that Cumulus Media will post -2.4 EPS for the current fiscal year.

Institutional Trading of Cumulus Media

Several institutional investors and hedge funds have recently made changes to their positions in CMLS. Acadian Asset Management LLC increased 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 worth $1,472,000 after buying an additional 36,024 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Cumulus Media in the 4th quarter valued at $57,000. Empowered Funds LLC purchased a new stake in Cumulus Media in the 1st quarter valued at $54,000. Jacobs Levy Equity Management Inc. acquired a new stake in Cumulus Media during the 1st quarter worth $303,000. Finally, Balanced Rock Investment Advisors LLC grew its position in Cumulus Media by 12.7% during the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after purchasing an additional 10,228 shares during the last quarter. 48.68% of the stock is owned by hedge funds and other institutional investors.

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.