StockNews.com Begins Coverage on Cumulus Media (NASDAQ:CMLS)

StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note published on Saturday morning. The firm issued a hold rating on the stock.

Cumulus Media Trading Down 3.0 %

Shares of NASDAQ:CMLS opened at $1.29 on Friday. The firm has a fifty day moving average of $1.49 and a two-hundred day moving average of $2.08. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.55. Cumulus Media has a 12-month low of $1.25 and a 12-month high of $5.51. The firm has a market capitalization of $21.78 million, a P/E ratio of -0.19 and a beta of 1.44.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings results 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 net margin of 16.46% and a negative return on equity of 22.15%. The firm had revenue of $204.85 million for the quarter, compared to analyst estimates of $206.00 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. On average, equities analysts expect that Cumulus Media will post -2.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Cumulus Media

Several institutional investors and hedge funds have recently modified their holdings of CMLS. Balanced Rock Investment Advisors LLC raised its holdings 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 buying an additional 10,228 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Cumulus Media in the 4th quarter worth approximately $57,000. Empowered Funds LLC bought a new stake in Cumulus Media during the first quarter worth approximately $54,000. Acadian Asset Management LLC boosted its position in Cumulus Media by 3.9% during the second 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. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Cumulus Media during the first quarter valued at approximately $303,000. Institutional investors and hedge funds 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.