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

StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note published on Friday. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Up 2.0 %

NASDAQ CMLS 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. Cumulus Media has a 52 week low of $0.68 and a 52 week high of $5.51. The business’s fifty day simple moving average is $1.08 and its 200-day simple moving average is $1.63. The firm has a market cap of $13.20 million, a PE ratio of -0.09 and a beta of 1.45.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings results 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). Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. The firm had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $204.05 million. During the same period last year, the company earned $0.16 EPS. As a group, equities analysts anticipate that Cumulus Media will post -2.71 earnings per share for the current year.

Institutional Trading of Cumulus Media

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cumulus Media in the 3rd quarter valued at approximately $25,000. Balanced Rock Investment Advisors LLC raised its position in Cumulus Media by 12.7% in 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 purchased a new stake in Cumulus Media in the third quarter valued at approximately $191,000. Jacobs Levy Equity Management Inc. acquired a new position in Cumulus Media during the first quarter worth $303,000. Finally, Acadian Asset Management LLC grew its stake in shares of Cumulus Media by 3.9% in the second 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 in the last quarter. 48.68% of the stock is currently 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.