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

StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Down 5.4 %

CMLS opened at $1.39 on Thursday. Cumulus Media has a 52 week low of $1.29 and a 52 week high of $5.51. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.55. The firm has a 50-day simple moving average of $1.64 and a two-hundred day simple moving average of $2.27. The company has a market capitalization of $23.47 million, a PE ratio of -0.21 and a beta of 1.45.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings data on Friday, August 2nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.19). Cumulus Media had a negative return on equity of 22.15% and a negative net margin of 16.46%. The firm had revenue of $204.85 million during the quarter, compared to the consensus estimate of $206.00 million. During the same period in the previous year, the business earned ($0.06) EPS. Analysts forecast that Cumulus Media will post -2.4 earnings per share for the current fiscal year.

Institutional Trading of Cumulus Media

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its holdings in shares of Cumulus Media by 3.9% during 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 during the last quarter. Balanced Rock Investment Advisors LLC raised its position in Cumulus Media by 12.7% during the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after acquiring an additional 10,228 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Cumulus Media in the first quarter valued at approximately $303,000. Empowered Funds LLC acquired a new stake in shares of Cumulus Media during the 1st quarter worth approximately $54,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Cumulus Media during the 4th quarter valued at approximately $57,000. Institutional investors own 48.68% of the company’s stock.

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.