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

Equities research analysts at StockNews.com started 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 Stock Performance

Shares of CMLS opened at $0.75 on Wednesday. The stock has a 50 day moving average of $1.30 and a 200 day moving average of $1.83. The company has a market capitalization of $12.78 million, a price-to-earnings ratio of -0.08 and a beta of 1.45. Cumulus Media has a 12 month low of $0.75 and a 12 month high of $5.51. The company has a current ratio of 1.89, a quick ratio of 1.88 and a debt-to-equity ratio of 3.68.

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 business had revenue of $203.60 million for the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $0.16 earnings per share. As a group, sell-side analysts forecast that Cumulus Media will post -2.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its stake in Cumulus Media by 3.9% in the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after purchasing an additional 15,920 shares during the last quarter. Balanced Rock Investment Advisors LLC lifted its position in shares of Cumulus Media by 12.7% during the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after buying an additional 10,228 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Cumulus Media during the 1st quarter worth $303,000. Finally, Empowered Funds LLC purchased a new stake in Cumulus Media in the 1st quarter worth about $54,000. 48.68% of the stock is owned by institutional investors.

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.