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

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

Cumulus Media Price Performance

CMLS stock opened at $0.93 on Tuesday. The firm has a market capitalization of $15.75 million, a P/E ratio of -0.11 and a beta of 1.45. Cumulus Media has a 52 week low of $0.88 and a 52 week high of $5.51. 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 company has a fifty day simple moving average of $1.38 and a two-hundred day simple moving average of $1.89.

Cumulus Media (NASDAQ:CMLS) last announced its earnings results on Friday, August 2nd. The company reported ($0.68) earnings per share (EPS) 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 business had revenue of $204.85 million for the quarter, compared to analysts’ expectations of $206.00 million. During the same quarter last year, the firm earned ($0.06) EPS. Analysts anticipate that Cumulus Media will post -2.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CMLS. Empowered Funds LLC purchased a new position in shares of Cumulus Media in the 1st quarter valued at $54,000. Balanced Rock Investment Advisors LLC raised its holdings in shares of 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 buying an additional 10,228 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Cumulus Media in the 1st quarter valued at $303,000. Finally, 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. 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.