StockNews.com Initiates Coverage on Cumulus Media (NASDAQ:CMLS)

Equities researchers at StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report released on Thursday. The brokerage set a “hold” rating on the stock.

Cumulus Media Stock Down 5.1 %

NASDAQ:CMLS opened at $0.73 on Thursday. The firm has a market capitalization of $12.42 million, a PE ratio of -0.08 and a beta of 1.45. Cumulus Media has a 52 week low of $0.69 and a 52 week 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 stock has a 50 day moving average of $1.20 and a 200-day moving average of $1.75.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data on Friday, November 1st. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The company had revenue of $203.60 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned $0.16 earnings per share. Analysts predict that Cumulus Media will post -2.71 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in shares of Cumulus Media by 9.6% in the first quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock valued at $1,472,000 after purchasing an additional 36,024 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Cumulus Media in the 1st quarter valued at approximately $303,000. Balanced Rock Investment Advisors LLC raised its stake 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 valued at $185,000 after acquiring an additional 10,228 shares in the last quarter. Garden State Investment Advisory Services LLC acquired a new position in Cumulus Media during the 3rd quarter worth $191,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Cumulus Media during the 3rd quarter worth $25,000. 48.68% of the stock is owned by institutional investors and hedge funds.

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.