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

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

Cumulus Media Stock Performance

Cumulus Media stock opened at $1.14 on Friday. The stock’s 50 day simple moving average is $1.47 and its two-hundred day simple moving average is $2.01. 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 stock has a market cap of $19.25 million, a price-to-earnings ratio of -0.17 and a beta of 1.44. Cumulus Media has a fifty-two week low of $1.13 and a fifty-two week high of $5.51.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data on Friday, August 2nd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.19). The firm had revenue of $204.85 million during the quarter, compared to the consensus estimate of $206.00 million. Cumulus Media had a negative return on equity of 22.15% and a negative net margin of 16.46%. During the same period in the previous year, the firm earned ($0.06) EPS. As a group, analysts expect that Cumulus Media will post -2.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cumulus Media

Several institutional investors have recently bought and sold shares of CMLS. Balanced Rock Investment Advisors LLC increased its stake 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 purchasing an additional 10,228 shares during the period. Quadrature Capital Ltd acquired a new stake in Cumulus Media in the 4th quarter worth approximately $57,000. Empowered Funds LLC acquired a new stake in shares of Cumulus Media during the first quarter worth $54,000. Acadian Asset Management LLC lifted its position 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 acquiring an additional 15,920 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Cumulus Media in the first quarter valued at about $303,000. Institutional investors 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.