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

Equities research analysts at StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

Cumulus Media Price Performance

CMLS opened at $1.49 on Wednesday. The company has a fifty day moving average price of $1.72 and a two-hundred day moving average price of $2.37. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $25.16 million, a PE ratio of -0.22 and a beta of 1.45. Cumulus Media has a 52 week low of $1.29 and a 52 week high of $5.51.

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 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 the consensus estimate of $206.00 million. During the same quarter in the prior year, the company posted ($0.06) EPS. As a group, analysts anticipate that Cumulus Media will post -2.4 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its stake in Cumulus Media by 3.9% in the second 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 in the last quarter. Balanced Rock Investment Advisors LLC raised its stake 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 valued at $185,000 after purchasing an additional 10,228 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Cumulus Media in the first quarter valued at about $303,000. Empowered Funds LLC bought a new stake in shares of Cumulus Media in the first quarter valued at about $54,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Cumulus Media during the fourth quarter worth about $57,000. 48.68% of the stock is owned by institutional investors and hedge funds.

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.