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

Investment analysts at StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report released on Sunday. The brokerage set a “hold” rating on the stock.

Cumulus Media Stock Down 4.5 %

Shares of NASDAQ CMLS opened at $1.28 on Friday. The business has a 50-day moving average of $1.49 and a 200-day moving average of $2.05. The firm has a market capitalization of $21.61 million, a price-to-earnings ratio of -0.19 and a beta of 1.44. Cumulus Media has a 12 month low of $1.24 and a 12 month high of $5.51. 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 (NASDAQ:CMLS) last announced its quarterly earnings data on Friday, August 2nd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business posted ($0.06) earnings per share. Sell-side analysts expect that Cumulus Media will post -2.4 earnings per share for the current fiscal year.

Institutional Trading of Cumulus Media

Several large investors have recently modified their holdings of CMLS. Jacobs Levy Equity Management Inc. purchased a new stake in Cumulus Media in the first quarter worth about $303,000. Acadian Asset Management LLC raised its position in shares of Cumulus Media by 9.6% in the 1st quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock worth $1,472,000 after purchasing an additional 36,024 shares during the last quarter. Balanced Rock Investment Advisors LLC boosted its stake in Cumulus Media by 24.5% in the 1st quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock worth $288,000 after purchasing an additional 15,820 shares in the last quarter. Empowered Funds LLC purchased a new stake in Cumulus Media during the 1st quarter valued at about $54,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Cumulus Media during the fourth quarter valued at approximately $57,000. 48.68% of the stock is owned by 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.