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

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

Cumulus Media Stock Performance

Shares of Cumulus Media stock 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 business has a 50-day moving average price of $0.96 and a two-hundred day moving average price of $1.50. The company has a market cap of $13.25 million, a P/E ratio of -0.09 and a beta of 1.31.

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). Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. The business had revenue of $203.60 million for the quarter, compared to the consensus estimate of $204.05 million. During the same period in the previous year, the firm earned $0.16 earnings per share. As a group, analysts anticipate 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 added to or reduced their stakes in the stock. Balanced Rock Investment Advisors LLC boosted its position 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 valued at $185,000 after acquiring an additional 10,228 shares during the period. Acadian Asset Management LLC boosted its holdings in Cumulus Media by 3.9% in the 2nd 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 period. Y Intercept Hong Kong Ltd purchased a new position in shares of Cumulus Media during the 3rd quarter valued at $25,000. Finally, Garden State Investment Advisory Services LLC bought a new position in shares of Cumulus Media in the third quarter worth $191,000. 48.68% of the stock is currently owned by hedge funds and other 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.