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

Stock analysts at StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the stock.

Cumulus Media Stock Performance

NASDAQ CMLS opened at $0.75 on Monday. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market capitalization of $12.75 million, a PE ratio of -0.08 and a beta of 1.31. Cumulus Media has a 52-week low of $0.68 and a 52-week high of $5.51. The company has a 50-day simple moving average of $0.90 and a 200 day simple moving average of $1.44.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings results on Friday, November 1st. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.07). Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. The company had revenue of $203.60 million for the quarter, compared to the consensus estimate of $204.05 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. On average, research analysts predict that Cumulus Media will post -2.71 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Balanced Rock Investment Advisors LLC raised its holdings 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 buying an additional 10,228 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Cumulus Media by 3.9% during the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after acquiring an additional 15,920 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Cumulus Media in the third quarter valued at $25,000. Finally, Garden State Investment Advisory Services LLC purchased a new stake in shares of Cumulus Media in the 3rd quarter worth about $191,000. 48.68% of the stock is 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.