Cumulus Media (NASDAQ:CMLS) Earns Hold Rating from Analysts at StockNews.com

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

Cumulus Media Trading Down 3.9 %

NASDAQ CMLS opened at $1.48 on Wednesday. The stock has a market cap of $24.99 million, a P/E ratio of -0.22 and a beta of 1.45. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 3.55. Cumulus Media has a 12-month low of $1.29 and a 12-month high of $5.51. The company has a fifty day simple moving average of $1.74 and a two-hundred day simple moving average of $2.39.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $206.00 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. On average, analysts forecast that Cumulus Media will post -2.4 earnings per share for the current year.

Institutional Trading of Cumulus Media

A number of hedge funds and other institutional investors have recently made changes to their positions in CMLS. Balanced Rock Investment Advisors LLC grew its position 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 during the period. Quadrature Capital Ltd purchased a new position in Cumulus Media during the fourth quarter valued at approximately $57,000. Empowered Funds LLC purchased a new stake in Cumulus Media in the 1st quarter worth approximately $54,000. Acadian Asset Management LLC grew its stake in shares of 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 during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Cumulus Media during the 1st quarter valued at approximately $303,000. Institutional investors and hedge funds own 48.68% of the company’s stock.

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.