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 research note issued on Friday. The firm set a “hold” rating on the stock.

Cumulus Media Price Performance

Shares of Cumulus Media stock opened at $0.78 on Friday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. The stock has a market capitalization of $13.20 million, a price-to-earnings ratio of -0.09 and a beta of 1.45. Cumulus Media has a twelve month low of $0.68 and a twelve month high of $5.51. The company has a 50-day simple moving average of $1.08 and a two-hundred day simple moving average of $1.64.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The business had revenue of $203.60 million during 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 quarter in the previous year, the firm posted $0.16 earnings per share. Analysts forecast that Cumulus Media will post -2.71 EPS for the current year.

Institutional Trading of Cumulus Media

Several large investors have recently modified their holdings of CMLS. Y Intercept Hong Kong Ltd bought a new stake in Cumulus Media during the third quarter worth about $25,000. Balanced Rock Investment Advisors LLC increased its holdings in Cumulus Media by 12.7% in 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 period. Garden State Investment Advisory Services LLC acquired a new position in shares of Cumulus Media in the 3rd quarter valued at approximately $191,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Cumulus Media during the 1st quarter worth approximately $303,000. Finally, Acadian Asset Management LLC boosted its position 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 acquiring an additional 15,920 shares in the last quarter. 48.68% of the stock is owned by institutional investors and hedge funds.

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.