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

Equities researchers at StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the stock.

Cumulus Media Stock Performance

Shares of CMLS opened at $0.69 on Tuesday. The firm’s 50 day moving average price is $0.83 and its two-hundred day moving average price is $1.38. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. Cumulus Media has a twelve month low of $0.67 and a twelve month high of $5.35. The firm has a market cap of $11.72 million, a P/E ratio of -0.08 and a beta of 1.31.

Cumulus Media (NASDAQ:CMLS) last announced 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). 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 during the quarter, compared to the consensus estimate of $204.05 million. During the same period in the prior year, the firm earned $0.16 EPS. On average, analysts forecast that Cumulus Media will post -2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in shares of Cumulus Media by 3.9% during the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after buying an additional 15,920 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new position in Cumulus Media in the 3rd quarter valued at about $191,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Cumulus Media during the third quarter worth approximately $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.