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

Analysts at StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report released on Thursday. The firm set a “hold” rating on the stock.

Cumulus Media Stock Performance

Shares of Cumulus Media stock opened at $1.45 on Thursday. Cumulus Media has a one year low of $1.29 and a one year high of $5.51. The firm has a market capitalization of $24.56 million, a price-to-earnings ratio of -0.22 and a beta of 1.45. The business has a 50-day simple moving average of $1.67 and a 200 day simple moving average of $2.31. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.88 and a quick ratio of 1.88.

Cumulus Media (NASDAQ:CMLS) last issued its earnings results 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 firm had revenue of $204.85 million during the quarter, compared to the consensus estimate of $206.00 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. On average, research analysts anticipate that Cumulus Media will post -2.4 earnings per share for the current fiscal year.

Institutional Trading of Cumulus Media

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its holdings 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 purchasing an additional 15,920 shares in the last quarter. Balanced Rock Investment Advisors LLC increased its holdings 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 in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Cumulus Media during the 1st quarter worth approximately $303,000. Empowered Funds LLC bought a new stake in Cumulus Media during the 1st quarter worth approximately $54,000. Finally, Quadrature Capital Ltd bought a new stake in Cumulus Media during the 4th quarter worth approximately $57,000. 48.68% of the stock is owned by 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.