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

Research analysts at StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the stock.

Cumulus Media Trading Up 7.2 %

NASDAQ CMLS opened at $0.78 on Friday. Cumulus Media has a 1-year low of $0.68 and a 1-year high of $5.51. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68. The company has a market capitalization of $13.25 million, a PE ratio of -0.09 and a beta of 1.31. The firm’s fifty day simple moving average is $1.01 and its 200-day simple moving average is $1.57.

Cumulus Media (NASDAQ:CMLS) last posted its earnings results on Friday, November 1st. The company reported ($0.61) 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 analyst estimates of $204.05 million. Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. During the same period in the previous year, the company earned $0.16 earnings per share. As a group, sell-side analysts anticipate that Cumulus Media will post -2.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cumulus Media

Several hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its stake in 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 during the period. Garden State Investment Advisory Services LLC bought a new position in Cumulus Media during the third quarter worth about $191,000. Balanced Rock Investment Advisors LLC lifted its stake 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 worth $185,000 after purchasing an additional 10,228 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Cumulus Media during the third quarter worth about $25,000. 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.