Cumulus Media (NASDAQ:CMLS) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report released on Thursday. The firm issued a hold rating on the stock.

Cumulus Media Stock Down 5.4 %

NASDAQ CMLS opened at $1.39 on Thursday. The business’s fifty day simple moving average is $1.64 and its 200-day simple moving average is $2.27. 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 firm has a market cap of $23.47 million, a PE ratio of -0.21 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 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 return on equity of 22.15% and a negative net margin of 16.46%. The firm had revenue of $204.85 million for the quarter, compared to analysts’ expectations of $206.00 million. During the same period last year, the firm earned ($0.06) earnings per share. As a group, equities analysts anticipate that Cumulus Media will post -2.4 earnings per share for the current year.

Institutional Investors Weigh In On Cumulus Media

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new position in shares of Cumulus Media during the 4th quarter worth $57,000. Empowered Funds LLC purchased a new position in Cumulus Media during the first quarter worth about $54,000. Acadian Asset Management LLC increased its position in shares of Cumulus Media by 9.6% during the first quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock valued at $1,472,000 after acquiring an additional 36,024 shares during the last quarter. Balanced Rock Investment Advisors LLC raised its stake in shares of Cumulus Media by 24.5% in the 1st quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock valued at $288,000 after acquiring an additional 15,820 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Cumulus Media in the 1st quarter worth approximately $303,000. Institutional investors and hedge funds 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.