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

Investment analysts at StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the stock.

Cumulus Media Stock Up 1.4 %

Shares of CMLS stock opened at $0.72 on Wednesday. The stock’s 50 day simple moving average is $1.27 and its 200 day simple moving average is $1.81. Cumulus Media has a twelve month low of $0.70 and a twelve month high of $5.51. 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 $12.23 million, a price-to-earnings ratio of -0.08 and a beta of 1.45.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The firm had revenue of $203.60 million during the quarter, compared to the consensus estimate 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 business earned $0.16 EPS. As a group, research analysts predict that Cumulus Media will post -2.71 EPS for the current year.

Institutional Investors Weigh In On Cumulus Media

A number of hedge funds have recently bought and sold shares of CMLS. Acadian Asset Management LLC increased its holdings 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 purchasing an additional 15,920 shares during the period. 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 worth $185,000 after purchasing an additional 10,228 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Cumulus Media during the 1st quarter valued at about $303,000. Finally, Empowered Funds LLC bought a new position in shares of Cumulus Media in the 1st quarter valued at about $54,000. 48.68% of the stock is currently owned by institutional investors.

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.