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 research note issued to investors on Wednesday. The firm set a “hold” rating on the stock.

Cumulus Media Trading Up 3.8 %

NASDAQ:CMLS opened at $0.82 on Wednesday. The stock has a market cap of $13.93 million, a PE ratio of -0.09 and a beta of 1.32. Cumulus Media has a fifty-two week low of $0.63 and a fifty-two week high of $5.30. The company has a debt-to-equity ratio of 3.68, a current ratio of 1.89 and a quick ratio of 1.89. The stock’s 50-day moving average is $0.79 and its two-hundred day moving average is $1.34.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings data on Friday, November 1st. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The company 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 prior year, the company posted $0.16 EPS. As a group, equities research analysts forecast that Cumulus Media will post -2.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC lifted 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 valued at $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 during the third quarter valued at approximately $191,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Cumulus Media in the third quarter valued at approximately $25,000. 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.