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

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

Cumulus Media Stock Performance

Shares of CMLS stock opened at $0.84 on Thursday. 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 1 year low of $0.63 and a 1 year high of $5.18. The stock’s 50-day moving average is $0.76 and its two-hundred day moving average is $1.28. The firm has a market cap of $14.27 million, a price-to-earnings ratio of -0.09 and a beta of 1.32.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.61) earnings per share (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 company had revenue of $203.60 million for the quarter, compared to analysts’ expectations of $204.05 million. During the same period in the prior year, the business earned $0.16 EPS. Analysts predict that Cumulus Media will post -2.71 earnings per share for the current year.

Institutional Investors Weigh In On Cumulus Media

An institutional investor recently bought a new position in Cumulus Media stock. Garden State Investment Advisory Services LLC acquired a new stake in Cumulus Media Inc. (NASDAQ:CMLS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 145,500 shares of the company’s stock, valued at approximately $191,000. Garden State Investment Advisory Services LLC owned 0.86% of Cumulus Media as of its most recent SEC filing. 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.