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

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

Cumulus Media Stock Up 2.6 %

Shares of Cumulus Media stock opened at $1.55 on Friday. The stock has a 50 day moving average price of $1.96 and a two-hundred day moving average price of $2.88. The stock has a market capitalization of $26.17 million, a P/E ratio of -0.22 and a beta of 1.47. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 3.22. Cumulus Media has a 12-month low of $1.29 and a 12-month high of $5.51.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.19). The business had revenue of $204.85 million for the quarter, compared to analyst estimates of $206.00 million. Cumulus Media had a negative return on equity of 16.78% and a negative net margin of 13.18%. During the same quarter in the prior year, the firm earned ($0.06) EPS. Equities analysts expect that Cumulus Media will post -1.91 earnings per share for the current year.

Hedge Funds Weigh In On Cumulus Media

Several institutional investors have recently modified their holdings of CMLS. Acadian Asset Management LLC lifted its stake in Cumulus Media by 9.6% in the 1st quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock valued at $1,472,000 after acquiring an additional 36,024 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Cumulus Media during the 4th quarter worth approximately $57,000. First Eagle Investment Management LLC acquired a new position in Cumulus Media in the 4th quarter valued at $117,000. Empowered Funds LLC acquired a new position in Cumulus Media in the 1st quarter valued at $54,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Cumulus Media in the 1st quarter valued at $303,000. 48.68% of the stock is currently 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.