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

StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note released on Thursday morning. The firm issued a hold rating on the stock.

Cumulus Media Stock Performance

Shares of Cumulus Media stock opened at $0.73 on Thursday. Cumulus Media has a one year low of $0.69 and a one year high of $5.51. The company has a market capitalization of $12.33 million, a PE ratio of -0.08 and a beta of 1.45. 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 50-day simple moving average of $1.16 and a two-hundred day simple moving average of $1.71.

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

Institutional Trading of Cumulus Media

Large investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Cumulus Media during the third quarter worth about $25,000. Balanced Rock Investment Advisors LLC lifted its position in Cumulus Media by 12.7% during the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after purchasing an additional 10,228 shares during the period. Garden State Investment Advisory Services LLC acquired a new position in Cumulus Media during the third quarter valued at $191,000. Jacobs Levy Equity Management Inc. acquired a new stake in Cumulus Media during the 1st quarter worth about $303,000. Finally, Acadian Asset Management LLC raised 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 valued at $868,000 after buying an additional 15,920 shares during the last quarter. Hedge funds and other institutional investors own 48.68% of the company’s stock.

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.