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

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

Cumulus Media Price Performance

NASDAQ CMLS opened at $0.76 on Monday. The company has a market cap of $12.91 million, a PE ratio of -0.08 and a beta of 1.31. Cumulus Media has a 52-week low of $0.68 and a 52-week high of $5.51. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. The firm’s 50 day moving average price is $0.89 and its 200-day moving average price is $1.43.

Cumulus Media (NASDAQ:CMLS) last announced its earnings results on Friday, November 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The company had revenue of $203.60 million for the quarter, compared to the consensus estimate of $204.05 million. Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. During the same period last year, the business posted $0.16 EPS. Sell-side analysts forecast that Cumulus Media will post -2.71 EPS for the current fiscal year.

Institutional Trading of Cumulus Media

Several hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Cumulus Media in the 3rd quarter worth approximately $25,000. Balanced Rock Investment Advisors LLC lifted its position in Cumulus Media by 12.7% during the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after acquiring an additional 10,228 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new position in Cumulus Media in the third quarter worth $191,000. Finally, Acadian Asset Management LLC increased its position in shares of Cumulus Media by 3.9% during the second 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. 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.