Separately, Zacks Investment Research lowered shares of Cumulus Media from a buy rating to a hold rating in a report on Tuesday, July 18th.
Cumulus Media (CMLS) opened at $0.29 on Friday. The firm has a market cap of $8.79, a price-to-earnings ratio of 1.15 and a beta of 3.58. Cumulus Media has a 1-year low of $0.22 and a 1-year high of $1.61. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of -4.86.
Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings results on Monday, August 14th. The company reported $0.19 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.19. The company had revenue of $290.53 million for the quarter, compared to analyst estimates of $288.00 million. Cumulus Media had a negative net margin of 47.67% and a negative return on equity of 1.60%. equities research analysts expect that Cumulus Media will post -0.47 earnings per share for the current year.
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A hedge fund recently bought a new stake in Cumulus Media stock. Alta Fundamental Advisers LLC acquired a new position in Cumulus Media Inc. (NASDAQ:CMLS) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 713,858 shares of the company’s stock, valued at approximately $321,000. Cumulus Media makes up 0.3% of Alta Fundamental Advisers LLC’s holdings, making the stock its 21st biggest holding. Alta Fundamental Advisers LLC owned 2.44% of Cumulus Media at the end of the most recent quarter. Institutional investors own 61.71% of the company’s stock.
Cumulus Media Company Profile
Cumulus Media Inc (Cumulus) is a radio broadcasting company. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine and live events. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees.
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